British Columbia Premier David Eby said late Wednesday that the province had identified “sophisticated cybersecurity incidents” involving government networks.
A government source later said the incidents were related to a directive to all provincial employees early last week that they should immediately change their passwords.
That directive had previously been described by B.C.’s Office of the Chief Information Officer as a precaution, in a statement suggesting the government was “routinely updating security measures.”
Eby said in a statement that the provincial government was working with the Canadian Centre for Cyber Security and other agencies to determine the extent of the incidents, but there was currently no evidence that sensitive information had been compromised.
Eby said that the investigation was ongoing and more work needed to be done to determine what information could have been accessed.
He said the Office of the Information and Privacy Commissioner had been informed of the incidents.
Eby said the government would be as transparent as it could “without compromising the investigation,” and would provide public updates.
Government staff were sent an email late Wednesday from Shannon Salter, deputy minister to the premier and head of the public service, informing them of the incidents.
“As the work continues to investigate these incidents, please change your password from 10 to 14 characters as requested and respond promptly to any other instructions to improve security,” said the email, obtained by The Canadian Press.
A statement provided last Thursday by the Office of the Chief Information Officer suggested that the original request to update passwords earlier that week was routine.
“The OCIO is taking preventive measures to safeguard government data and systems,” the statement said.
“As a security precaution … password length has increased from 10 to 14 characters. Routinely updating security measures from time to time is what helps keep government data and systems safe.”
In other incidents in recent weeks, hackers targeting B.C. libraries tried to extort payment not to release information about users, while retailer London Drugs was forced to shut its stores for more than a week to deal with a cybersecurity breach.
The government source said staff were told there was no indication that the government incident was related to either the library hack or the London Drugs shutdown, but the matter was still under investigation.
Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.
TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.
The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.
Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.
Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.
TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.
This report by The Canadian Press was first published Sept. 26, 2024.
MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.
The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.
Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.
A strategic review is often seen by investors as a prelude to a sale by a company.
Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.
Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.
This report by The Canadian Press was first published Sept. 26, 2024.
MONTREAL – National Bank of Canada says it has cleared a key regulatory hurdle in its proposed acquisition of Canadian Western Bank.
The Montreal-based bank says it has received the Competition Bureau’s clearance for the deal.
The transaction still requires approval by the Office of the Superintendent of Financial Institutions and the minister of finance.
Canadian Western shareholders voted to approve the deal earlier this month.
National Bank announced an all-stock deal to buy Canadian Western earlier this year in a proposal that valued the Edmonton-based bank at about $5 billion.
It has said its acquisition of Canadian Western will significantly expand its western footprint and create a stronger national competitor.
This report by The Canadian Press was first published Sept. 26, 2024.
