Investment Funds Institute Of Canada Issues Cybersecurity Guide

In February 2019, the Investment Funds Institute of Canada issued a Cybersecurity Guide to help its members develop a robust cybersecurity program. The guide is consistent with guidance issued by other financial industry regulators, and is a useful reminder of cybersecurity best practices for organizations in all business sectors.

Cyber Risks

Cyber risks are risks of harm (e.g. business disruption loss, financial loss, reputational harm, trade secret disclosure and other competitive harm) and costs/liabilities (e.g. incident response and remediation costs, litigation/regulatory proceeding costs, and liabilities to stakeholders, business partners, customers and regulators) suffered or incurred by an organization as a result of a failure or breach of the information technology systems used by or on behalf of the organization or its business partners (e.g. suppliers and service providers), including incidents involving loss or theft of, or unauthorized access,