0:00
having an online presence is critical
0:02
for many Canadian businesses it helps
0:04
create new opportunities but it also
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exposes many risks when it comes to
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privacy and data protection the cost on
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recovery from cyber security is now
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soaring here's ctv's Rachel Crow Brading
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Wings statistics Canada found that some
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businesses paid a ransom of more than
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half a million dollars after a Cyber
0:24
attack last year cyber insecurity is the
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problem of our time and it's getting
0:30
worse unfortunately more of us are
0:32
falling victim to cyber criminals
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whether we're individuals or
0:36
organizations the amount of money that's
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being lost is spiraling out of control
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more than 12,000 businesses were
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surveyed for the report last year it was
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estimated 2% of Canadian businesses were
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reported as targets for ransomware
0:51
ransomware delete the things and they
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encryp the whole infrastructure and they
0:58
ask money to the business and there's no
1:01
way to decre this whole data then
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sometimes companies just pay all the
1:07
money while most didn't make a payment
1:09
12% did give money to the attackers it
1:12
opens up a hornets nest of additional
1:15
risk uh and unfortunately cyber
1:17
criminals know this all too well and
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they're boring in on their weakest
1:20
victims 84% of payments were under
1:23
$10,000 4% of businesses dished out over
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$500,000 what's particular ularly
1:30
troubling here is that the dollar
1:32
figures are growing so quickly doubling
1:34
tripling year-over-year uh you know
1:37
billions of dollars being spent to both
1:39
prevent this kind of thing from
1:40
happening and then recovering from it
1:41
after uh and so you know we aren't
1:44
prioritizing cyber security to the
1:46
degree that we should only 13% of
1:49
businesses who fell victim to cyber
1:51
attacks actually reported it to police
1:53
but that number is up from 10% in 2021
1:57
the reason I can imagine from the
2:00
company side who don't report this like
2:03
maybe they don't want to give the bad
2:06
impression to the customers you know
2:08
Canadian businesses spent more than a
2:10
billion dollars recovering from cyber
2:12
security incidents last year and 10
2:15
times that on prevention and detection
2:18
Rachel Crow spreading Wings CTV News
