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cyberattack

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Canadian companies paying high cybercrime bills

May 13, 2019 by Adam Malik

Malicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in

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Cyber attack in Canada spawns $60 million lawsuit

March 29, 2019 By Colin Perkel - THE CANADIAN PRESS

TORONTO – As many as 200,000 people may have had their personal information stolen in a hack on servers at one of Ontario’s most popular casinos, a lawyer for the plaintiffs pressing a proposed class action argued on Thursday. However,

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Canadian bank breaches highlight rise of cyber threats as new exploitation strategies

May 31, 2018 Ian Bickis - THE CANADIAN PRESS

Apparent attempts to extort two major Canadian banks highlight the increasing threat and variety of cyberattacks against major companies. Attacks against BMO and CIBC-owned Simplii – that compromised the information of up to a combined 90,000 Canadians – made public

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Cyberattacks will increasingly lead to business interruption, cyber insurer warns

February 22, 2018 by Jason Contant

Cyber insurer Beazley is expecting an increase in cyberattacks that lead to business interruption, especially due to the growth of cloud platforms and connected devices in the workplace. On Wednesday, Beazley released its 2018 Breach Briefing outlining the types of

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Total number of Canadians impacted by cyberattack passes 19,000: Equifax Canada

November 30, 2017 The Canadian Press (CPSTF)

TORONTO – Equifax Canada has revised the number of Canadians caught up in a massive data breach earlier this year, saying an investigation has found that more than 19,000 were affected. The company previously said about 8,000 Canadian customers had

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Cybercrime drains US$11.7 million per business annually, up 62% in five years, study finds

September 29, 2017 by Canadian Underwriter

The average cost of cybercrime globally climbed to US$11.7 million per organization, a 23% increase from US$9.5 million reported in 2016, according to new research from Accenture and the Ponemon Institute. The year-over-year increase also represents a “staggering” 62% increase

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Nearly one-half of Canadian SMB employees believe their company is at risk of cyberattack: survey

September 27, 2017 by Canadian Underwriter

Nearly one-half (46%) of Canadian small- and medium-sized businesses (SMBs) believe that their organization is at risk of experiencing a cyberattack, according to a new survey from Internet security company ESET Canada. The research, commissioned by ESET Canada and conducted

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Deloitte says email cyberattack affected ‘very few clients’

September 25, 2017 The Associated Press (APR)

LONDON – Accounting firm Deloitte says it has launched a thorough investigation into a cyberattack that hit its email system. The company said in a statement Monday that the breach had affected “very few clients” and that government authorities were

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Cyberattacks cost large businesses in North America an average of US$1.3 million: Kaspersky

September 19, 2017 by Canadian Underwriter

The cost of a cyberattack for large enterprises in North America is US$1.3 million, up from US$1.2 million in 2016, according to a new report from cybersecurity company Kaspersky Lab and market research firm B2B International. The report, titled IT

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Alleged Yahoo hacker Karim Baratov to forgo extradition hearing

August 21, 2017 Paola Loriggio - THE CANADIAN PRESS

HAMILTON – A Canadian man accused in a massive hack of Yahoo emails will forgo his extradition hearing and go face the charges in the United States in what his lawyer has called an effort to speed up the legal process.
Karim Baratov signed documents agreeing to waive the hearing before a Hamilton judge on Friday, after weighing the decision for months.
Ontario Superior Court Justice Andrew Goodman warned Baratov that the move could leave him open to more charges in the U.S., prompting the 22-year-old’s lawyer to confirm…

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$11.2-million settlement proposed in Ashley Madison data security breach

July 17, 2017 Paola Loriggio - THE CANADIAN PRESS

The Toronto-based parent company of the infidelity dating site Ashley Madison says it has reached a US$11.2-million settlement an American class-action lawsuits stemming from a massive security breach two years ago. Ruby Corp., which was previously known as Avid Life

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New cyberattack causes mass disruption globally

June 27, 2017 by Canadian Underwriter

One month after the massive global WannaCry ransomware attack, “a new and highly virulent outbreak of malicious data-scrambling software appears to be causing mass disruption across the world, hitting companies and governments in Europe especially hard,” the Associated Press reported