Banks in Canada remain steadfast in their support of the people of Ukraine and the more than 1.4 million members of the Ukrainian diaspora that make their homes in Canada. Through donations to humanitarian aid organizations, compliance with economic sanctions imposed on entities and individuals, and by guarding against the increased threat of cyber attacks, banks in Canada are in solidarity with the global effort to take action and support the people of Ukraine.
Humanitarian aid
Banks have donated more than $4 million to support humanitarian aid efforts in Ukraine and neighbouring countries, helping to provide immediate and ongoing emergency assistance to those in urgent need.
In addition, several banks began accepting financial donations online and in their branches to support the Canadian Red Cross Ukraine Humanitarian Crisis Appeal.
Economic sanctions
Banks comply with all applicable legal and regulatory obligations, including sanctions imposed by the Government of Canada in response to the attack on Ukraine. Where sanctions apply to financial institutions, transactions with customers through those financial institutions are also sanctioned.
Protecting against cyber attacks
The Canadian Centre for Cyber Security Canadian businesses to bolster their organizations against Russian state-sponsored cyber threats.
Banks in Canada are security‑mature organizations widely recognized for their leading cyber security practices. Highly‑skilled IT security teams use advanced technologies to safeguard bank operations against cyber attacks to keep customer accounts and data secure.
Banks also have a long history of working closely with government departments and agencies, law enforcement and other strategic partners to share intelligence and align their efforts to counter cyber threats.
Bank Announcements
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