Published: November 4, 2015
OrganizationSecurities

Montréal - Last week in Montréal, the Autorité des marchés financiers ("AMF") hosted the first round table of experts dedicated to securities cybersurveillance.

Some 20 representatives of the Canadian Securities Administrators (CSA) highlighted their experiences and tools used in the detection of suspicious web-based activities and cybercrime investigations. As well, they covered various issues arising from the management of cybersurveillance files, such as prioritization, investigation techniques and co-operation among regulators and various parties on the Web. Emerging cybercrime trends were also under discussion.

AMF cybersurveillance: already 5 years!

The event was an opportunity to highlight the 5th anniversary of the AMF's cybersurveillance unit, which was set up for the purpose of detecting the growing number of suspicious Web-based solicitations. The team of experts is called on to handle an average of 100 cases a year, essentially by detecting suspicious activities conducted on the Web. They make use of specialized software programs, some of which are developed and/or adapted internally, for the purpose of uncovering and monitoring suspicious activities. In some instances, this leads to infiltration to help gather essential information in support of investigations.

With over five years of activities under its belt, the cybersurveillance team generated approximately 425 files, almost half of which gave rise to measures taken by the AMF against individuals or organizations. Specifically, as a result of these activities:

  • 37 press releases and investor warnings were issued;
  • 68 files were referred to AMF Litigation;
  • 96 warning letters were sent to individuals or organizations;
  • 10 files were transferred to other regulators or police forces.

The Autorité des marchés financiers (the AMF) is the regulatory and oversight body for Québec's financial sector.

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