Cybersecurity is an issue for both New Brunswick consumers and businesses.
Knowing about best practices and current trends in cybersecurity risk management helps companies protect their businesses from attacks and safeguards their customers’ personal information. Being cyber safe also helps New Brunswickers protect their personal information, such as online banking passwords and social media accounts.
Some of the more common threats are phishing and malware, either of which can lead to hacked email accounts, compromised online bank accounts and ransomware victimization.
Most successful cyberattacks are the result of human error – like employees clicking on a link in a phishing email. These mistakes can be costly for both victims and businesses. One careless click can be enough to put small- to medium-sized companies out of business.
Notice to Market Participants
Proactive management of cyberrisk is critical to the stability of market participants, market integrity, and consumer and investor protection.
In October 2019, FCNB issued a notice (see below) to its registered or licensed participants regarding cybersecurity. The notice identifies important first steps market participants can take, and includes a simple initial checklist for organizations without a current cybersecurity risk plan or strategy.