Canadian organizations embroiled in data breaches wind up paying an average $6.32 million to resolve the incidents, a new study from IBM says.
A man uses a computer keyboard in Toronto in this Sunday, Oct. 9, 2023 photo illustration. THE CANADIAN PRESS/Graeme Roy
IBM sought to quantify not just the extent of attacks but also their cost — a figure that can include what organizations pay for detection and legal services, crisis management, regulatory fines, consumer reparations and lost business. When IBM combined the data from all of the countries it looked at, it found the most common forms of attack involved phishing or stolen or compromised credentials. Phishing attacks see scammers impersonate trusted people or website login forms to get victims to input or reveal sensitive information like passwords or credit card numbers.
In Canada, financial services and technology companies experienced the priciest breaches, with average costs hitting $9.28 million and $7.84 million, respectively. Toronto police are looking into two separate distraction-style thefts in the city this summer — one of which was caught on camera. The discovery of a possible sign of life in Venus' clouds sparked controversy. Now, scientists say they have more proof
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