Cybersecurity breaches prove costly

first_img Canadian Press Keywords Cybersecurity Phishing via internet isometric vector concept illustration Hacking credit card information website Cyber banking attack Online security polegaev/123RF Also readCybersecurity: The best defenceIt was based on a survey of 420 people with on-the-job responsibility for cybersecurity in their organizations.The 2018 report estimates that almost 87% of Canadian companies suffered at least one successful breach and 41% had sensitive data stolen last year.It also estimates that a breach costs $3.7 million, on average, in terms of network down time, employee work days, lost files and compromised information. Court approves data breach settlements with BMO, CIBC Share this article and your comments with peers on social media The report was done by IDC Canada for Scalar Decisions Inc., a Toronto-based IT services company that has issued similar reports since 2015.Also readThe cybersecurity challengecenter_img Related news A new study suggests nearly 90% of Canadian organizations suffered at least one cybersecurity breach last year and sensitive data was exposed almost half of the time.The survey found that one in five breaches was classified as “high impact” because sensitive customer or employee information was exposed. Facebook LinkedIn Twitter Desjardins Group says 2019 theft of 4.2 million members’ data cost $108 million IIROC urges vigilance amid heightened cybersecurity threatslast_img read more