Cyber Attacks Up, but Only 37% Canadian Companies Ready: Study

by Istvan Fekete on February 11, 2016

201602101312280y5sool45j0mfrfu2vclove3dMore than half of Canadian respondents to a cybersecurity study have experienced an incident involving the loss or exposure of sensitive information within the past year, Toronto-based Scalar Decisions has found.

The research, conducted by the Ponemon Institute, was commissioned by Scalar and involved a survey of 654 IT and IT security practitioners in Canada from a wide variety of industries. Nearly two-thirds worked at companies with between 251 and 5,000 employees in Canada, said Scalar.

The study entitled “The Cyber Security Readiness of Canadian Organizations”, found an average of 40 cyberattacks per year, an increase of 17% over last year. 70% of respondents said their organizations had experienced situations where exploits and malware had evaded their intrusion detection systems, and 82% said that cyberattacks had evaded their antivirus solutions.

Organizations spent about $7 million each fixing the damage to reputation and marketplace image, damage or theft of IT assets and infrastructure, disruption to normal operations, lost user productivity, and clear up or remediation. Divided by the average of 40 cyberattacks per year, this makes the average cost of an attack about $175,000.

The Scalar press release also highlights that only 37% of Canadian organizations believe they are “winning the cybersecurity war”, down 4% from last year. The primary challenges noted by the surveyed professionals were insufficient numbers of in-house personnel and lack of in-house experience.

Did you like this post? publishes daily news, editorial, thoughts, and controversial opinion – you can subscribe by: RSS (click here), or email (click here).

Written by: Istvan Fekete. Follow by: RSS, Twitter, Facebook, or YouTube.

Previous post:

Next post: