Industry News: Cyber

Cost of a Cyber Security Breach Reaches a Record High as Canadian Businesses Spend up to $5.8 Million to Recover

Written by Cybersecurity | Feb 8, 2019 8:23:39 PM

2019-02-07

FinancialPostCyber security incidents have become the new normal for Canadian companies, with one hundred per cent of organizations experiencing attacks, according to the findings of a new study from Scalar Decisions Inc. of more than 400 Canadian IT and security workers. Released today, the 2019 Scalar Security Study (commissioned by Scalar and conducted independently by IDC Canada) showed that cyber security incidents are occurring on a regular basis and the cost of these compromises is at an all-time high. The average cost per organization of responding to, and recovering from, cyber security incidents increased to between $4.8 million to $5.8 million, up from $3.7 million last year...

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