Cyber incident disables FINTRAC transaction-reporting systems

FINTRAC detected a cyber incident on 2 March 2024 and took affected environments and corporate systems offline. The shutdown made key electronic reporting capabilities unavailable to regulated entities, requiring businesses to retain reportable transactions for later submission and FINTRAC to establish alternative procedures for priority reports. FINTRAC later stated that some systems required months of restoration work and that forensic analysis found no evidence that information had been removed or lost.