Cybersecurity threats pose one of the most substantial risks to businesses today. From ransomware attacks to data breaches, these threats can have far-reaching implications on a company’s reputation, financial stability, and operational continuity. As cybercriminals have become more sophisticated over time, no business is immune to their attacks.

According to information from Statistics Canada, the primary types of cybersecurity incidents businesses reported were instances aimed at monetary theft or demanding ransom, along with attempts to steal personal or financial information. When identifying the source of these cybersecurity threats, about 61% of the affected businesses pointed towards external actors. However, it’s worth noting that 38% of businesses could not determine the perpetrator of the cybersecurity incidents.

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