#CyberFLASH: Canadian companies have ‘false sense of security’ when it comes to cyber threats


Many Canadian businesses have “wrapped themselves in a false sense of security” when it comes to resisting cyber attacks, according to a new survey by Deloitte.

A false feeling of preparedness, often because there has been no attack to date, leaves the door open “even wider for the would-be attackers,” according to Thursday’s report, which was based on responses from more than 100 major organizations across all major sectors.

On Wednesday, Target Corp., the U.S. retailer at the heart of a massive headline-grabbing cyber data breach in 2013, agreed to pay nearly US$40 million to resolve claims by banks and other financial institutions.

Deloitte found that 60 per cent of 103 Canadian organizations surveyed across a range of sectors reported they had not experienced a cyber attack in the past 24 months, and 90 per cent said they felt protected.

Yet, of those surveyed, only nine achieved the highest core on three key measurements: how secure they were, how vigilant they were in monitoring potential threats, and how resilient they were in terms of effective preparation for and recovery from attacks.

Deloitte concluded that Canadian organizations are “lagging when it comes to proactive threat management,” and noted that only half the organizations surveyed even have a defined cyber recovery process.

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