Financial institutions are under constant, targeted attack. Business email compromise, wire fraud, and data exfiltration cost Canadian firms billions annually. We help you close the gaps attackers exploit — while keeping operations running.
Threat Intelligence
Average cost of a data breach in the financial sector — the second-highest of any industry globally
— IBM Cost of a Data Breach 2023
The Challenge
Attackers impersonate executives, vendors, or counterparties to redirect wire transfers and payments. These attacks are highly targeted and difficult to detect with standard email filtering — a single successful attempt can cost hundreds of thousands of dollars with no technical recourse.
OSFI B-13 and FINTRAC now require financial institutions to demonstrate specific, documented security capabilities — not just policies. Audit findings and regulatory penalties for inadequate controls are increasingly common, and examiners are asking more technical questions than ever before.
Account information, transaction history, and identity documents are extremely valuable on the dark web. A breach doesn't just trigger PIPEDA notification obligations — it permanently damages client trust and often results in class-action litigation, even when technical controls are proven to exist.
How We Help
Advanced email security with domain authentication, display-name spoofing detection, and AI-based impersonation analysis stops BEC attacks before they reach decision-makers. Includes protection for wire transfer and payment-related workflows.
Branch office networks, trading systems, customer-facing portals, and back-office infrastructure each have different risk profiles. We design segmented architectures with zero-trust access controls that limit exposure and meet OSFI's network security expectations.
Before you can protect sensitive financial data, you need to know where it lives. We deploy automated data discovery tools that scan your environment, classify records by sensitivity, and flag ungoverned or over-shared data — giving you control and an audit-ready data map.
Detect account takeover, insider threats, and anomalous transaction patterns before they become reportable incidents. Deception technology and behavioural monitoring provide high-confidence alerts with the context your team needs to act fast.
Compliance & Regulatory
Technology and Cyber Risk Management guideline — requires federally regulated financial institutions to demonstrate robust, documented cyber controls and incident response capabilities.
Financial Transactions and Reports Analysis Centre — AML/ATF obligations include data security requirements for transaction records and client identification information.
Federal privacy law requiring reasonable safeguards for personal financial data and mandatory breach reporting when there is a real risk of significant harm.
Payment Card Industry Data Security Standard — mandatory for any organization handling card payments; specifies network security, access control, and monitoring requirements.
Outsourcing guideline — governs third-party and cloud service risk management, including security expectations for vendors handling financial data.
Canadian Centre for Cyber Security guidance for financial sector organizations — including threat assessments, ransomware response, and third-party risk management expectations.
Not sure where you stand?
We offer a no-cost security review tailored to your regulatory obligations.
Ready to get started?
We work with financial institutions across Canada — from credit unions to investment dealers. Book a free assessment and we'll map your current controls to OSFI B-13 requirements and identify your highest-priority gaps.
