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FINTRAC Responds to Cyber Incident with System Shutdown

Cybersecurity | March 6, 2024

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FINTRAC Takes Precautionary Measures Amid Cybersecurity Threat

In a proactive response to a cybersecurity incident, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has temporarily shut down some of its systems. This measure aims to protect sensitive data and maintain the integrity of Canada's financial intelligence operations.

FINTRAC, which plays a crucial role in the detection, prevention, and deterrence of money laundering and terrorist financing activities, emphasized that the incident did not compromise its intelligence or classified systems. The agency's swift response to take its corporate systems offline aims to ensure the integrity of its operations and protect the information it maintains. Collaborating closely with federal partners, including the Canadian Centre for Cyber Security, FINTRAC is actively working to protect and restore its systems.

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This incident is part of a series of recent cyber events targeting federal bodies, underscoring the importance of robust cybersecurity measures. In the past, other federal entities, including the RCMP last month and Global Affairs Canada in January 2024, have also faced cyber challenges, prompting investigations and heightened security protocols.

FINTRAC statement dated March 3, 2024

Over the last 24 hours, FINTRAC has and continues to manage a cyber incident. The incident does not involve the Centre's intelligence or classified systems.  As a precautionary measure, FINTRAC has taken its corporate systems offline in order to ensure their integrity and to protect the information that the Centre maintains.  FINTRAC is working closely with its federal partners, including the Canadian Centre for Cyber Security (Cyber Centre), to protect and restore its systems.  FINTRAC will provide updates on its website as they become available.


NCFA Jan 2018 resize - FINTRAC Responds to Cyber Incident with System ShutdownThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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