OTTAWA, Aug. 28 (Reuters) – Organized cybercrime will pose a threat to Canada’s national security and economic prosperity over the next two years, the National Signals and Intelligence Agency said on Monday.
In its report, the Communications Security Service (CSE) identified Russia and Iran as cybercrime safe havens where criminals can operate against Western targets.
Ransomware attacks against critical infrastructure such as hospitals and pipelines can be particularly profitable, the report says. According to the report, cybercriminals continue to demonstrate their resilience and ability to innovate their business models.
Canada’s CSE, the equivalent of the U.S. National Security Agency, said that “organized cybercrime is very likely to pose a threat to Canada’s national security and economic prosperity over the next two years.”
“Ransomware is arguably the most devastating form of cybercrime facing Canada, as it is so prevalent and can seriously impact an organization’s functioning,” the paper said. said.
According to official data, 70,878 cyber fraud cases were reported in Canada in 2022, with more than C$530 million ($390 million) stolen.
But Chris Lynam, director of Canada’s National Center for the Coordination of Cybercrime, said very few crimes were reported and the actual stolen money last year could well be more than C$5 billion.
“All sectors are being targeted, not just companies from all sectors. We need to see if the public is taking this seriously,” he said at a news conference.
According to CSE, Russian intelligence and law enforcement almost certainly maintain ties with cybercriminals, and as long as they focus on targets outside the former Soviet bloc, cybercriminals will almost certainly be punished. It is said that they are allowed to work without.
The Russian government has consistently denied conducting or supporting the hacking operation.
The Iranian government is likely to tolerate cybercriminal activities by Iran-based cybercriminals that are in line with the country’s strategic and ideological interests, he added.
(1 dollar = 1.3598 Canadian dollar)
Reporting by David Ljunggren Editing by Tomasz Janowski and Grant McCool
Our criteria: Thomson Reuters Trust Principles.