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Bank of Nova Scotia
Symbol C : BNS
Shares Issued 1,225,651,360
Close 2019-03-25 C$ 70.79
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FP/wire say TD, rivals hear cyberattacks increasing

2019-03-25 09:00 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Saturday edition that cyberattacks on financial institutions are increasingly being linked to nation-states, resulting in destructive and disruptive damages rather than just theft, according to a report by the Carnegie Endowment for International Peace. A Reuters dispatch to the Post reports that out of 94 cases of cyberattacks reported as financial crimes since 2007, the attackers behind 23 of them were believed to be state-sponsored, the majority coming from countries such as Iran, Russia, China and North Korea. The number of such cyberattacks linked to nations jumped to six in 2018 from two in 2017 and two in 2016, the report, which was co-developed with British defence company BAE Systems, showed. The report which was shared with Reuters a day ahead of its official release highlights growing concerns about the vulnerability in the financial system to cybersecurity threats.

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