The head of Canada’s banking regulator is warning that security risks are rising as the geopolitical landscape shifts, and says industry needs to adapt quickly.
Superintendent of Financial Institutions Peter Routledge, speaking at an Institute of International Finance forum in Toronto, says the risks the financial sector faces today are not the ones he expected when he took on the job in 2021.
He says shifts in geopolitics and technology mean banks and other financial institutions face heightened integrity and security risks.
Routledge says Canada is already a global leader in its response to the threats by making those types of risks just as important to manage as sound financial conditions….