The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced that some of its corporate systems were taken offline as a precaution, due to a cyberattack or, as it said, a “incident cyber.”
FINTRAC is a government agency that deals with money laundering, monitors millions of suspicious transactions and informs police of thousands of illegal money flows.
According to the agency, the recent cyber incident did not impact the agency’s intelligence or classified systems, so sensitive information and operational capabilities related to the agency’s core mission remain secure. FINTRAC continues to address the cyberattack.
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As stated in a press release, corporate systems were taken offline as a precautionary measure to ensure the integrity of the Center's data.
FINTRAC is investigating the cyberattack and working with federal partners, including the Canadian Centre for Cybersecurity, to restore operations and improve its defences.
The incident took place over the weekend and the organization has not provided any further details. No hacking or ransomware group has claimed responsibility for the attack, so the perpetrators remain unknown.
However, the implications of such an incident are severe. The first and most immediate impact of this is the disruption of FINTRAC services . This may affect the ability of banks and other financial institutions to promptly identify suspicious financial activity.
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This incident may also have implications for public confidence in the Canadian financial sector. The announcement of a major 'cyber incident' may raise concerns among citizens and businesses about the security of their financial transactions.
Canada has been the target of hackers since the beginning of the year. In late February, the national police force announced that it had suffered a breach, causing its website to go offline.
Earlier, Trans-Northern Pipelines (TNPI) admitted to having suffered a data breach. The ALPHV/Blackcat ransomware claimed responsibility for the attack.
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In January, a ransomware group hit the Zoo Toronto, the largest zoo in Canada.
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Finally, Memorial University of Newfoundland (MUN) also suffered a cyberattack in January, which caused various problems.
Source: www.bleepingcomputer.com
