Compared to 2019 statistics, the frequency of security breaches today has increased by 20%
, meaning that every 11 seconds one ransomware attack happens in any part of the world and Canada is no exception.
Although the country ranks 13th in the list of countries in terms of the efficiency of their cybersecurity strategy
, the amount of security breaches in Canada still rises from year to year. A whopping 85%
of Canadian companies have been affected by cybercriminals in 2021 which is a 7% increase in comparison with 2020.
As the average cost of a data breach for Canadian companies is 5.4 millio
n, both businesses and government take measures to strengthen the cybersecurity on an organizational and national level:
- A Canadian company spends on average 11.1% of its IT budget on security.
- The government keeps issuing new legislation such as PIPEDA (Personal Information Protection and Electronic Documents Act) and amendments to the current regulations in order to regulate how companies handle the customer- and business-related data.
Below, we've reviewed the most infamous cybersecurity breaches in Canada you should have heard, analyzing their causes and outcomes for various companies and enterprises.