Public Safety committee  As far as I'm aware, the government is looking at some cryptocurrency legislation. Those entities currently fall outside the financial sector, or at least the requirements and regulations under which banks operate.

Public Safety committee  My only general comment would be that, as we move into a digital world, these sectors that continue to move into that space need to make sure they have the proper oversight to ensure that things like cybersecurity provisions are established.

Public Safety committee  We also partner with Public Safety on Cyber Security Awareness Month.

Public Safety committee  To me it comes down to public awareness. If the government is able, and the financial sector is willing to work with government, to spread the word, at the end of the day, we do our best within the sector to share with our customers the vulnerabilities that exist. We need to reco

Public Safety committee  Certainly, the banks are fortunate to have the resources to put against cybersecurity risks. As we mentioned in our remarks, trust is at the forefront of everything we do in banking, so we need to invest significantly in cyber. We do a number of things in the private sector. We m

Public Safety committee  There are a number of them. Waterloo is one, with quantum computing. We also see a lot of work being done out west. New Brunswick has had a significant focus on cybersecurity. There are various hubs that continue to pop up. Obviously, Canadian banks want to support it. We do thin

Public Safety committee  I think it's maintaining the trust that Canadians have come to expect from the banking sector. I think it's the whole financial stability of the economy in general. We've been very vocal in our interest in sharing our knowledge with other sectors. We mentioned in our earlier rem

Public Safety committee  Yes, the banks would hold the customer relationship directly in that circumstance.

Public Safety committee  When it comes to things such as Wi-Fi, again, that falls under the telecom sector specifically and whatever safeguards they would be required to undertake. Again, Wi-Fi would affect things beyond financial services and financial transactions. That said, we've been very vocal in t

Public Safety committee  I think it's fair to say that banks and credit card companies are interconnected. The data is shared. Credit card companies have data related to the transaction, but so do the banks. At the end of the day, if it's a Canadian-issued credit card, then obviously banks would be oblig

Public Safety committee  Yes, our banks are involved in certain different international groups, one in particular in the U.S. called FS-ISAC, an information-sharing hub created in the U.S. but with a global reach. Our banks are certainly involved in that, as much as we share in Canada, as well.

Public Safety committee  From a national security perspective, that's not something we would have a lot of insight about. Certainly, that question would be better asked of the telecom industry.

Public Safety committee  Again, we would rely on the proper diligence being performed from a national security perspective on any telecom provider introduced into Canada. Obviously, whatever telecommunication provider comes into Canada would be required to support more than just the financial sector, so

Public Safety committee  As mentioned earlier, there is the risk of others playing in the financial space that may not have the same resources as a bank. I think that's one. Generally speaking, I think the more entities you have involved, the more interconnected channels that exist, then the greater the

Public Safety committee  May I add that OSFI also requires banks to report?