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Canadian companies fear ransomware attacks, cybersecurity research shows

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Some companies may see cyber attacks as a 'cost of doing business,' without fully understanding either the risk or the impact to the bottom line or reputation.

Two-thirds of corporate board members in 12 countries — including Canada — fear a cyberattack on their organization in the next year and almost half feel their organization is unprepared to cope with a targeted attack, new research indicates.

The data comes from a new survey of board members into perceptions about their key challenges and risks. The research was done by Proofpoint Inc. and Cybersecurity at MIT Sloan. Researchers contacted directors in the U.S., Canada, the U.K., France, Germany, Italy, Spain, Australia, Singapore, Japan, Brazil, and Mexico.

The Cybersecurity: The 2020 Board Perspective Report released Oct. 4 showed Canada has one of the highest disparities of countries examined when it comes to the perception of risk by a CISO and their board — 76 per cent of CISOs seeing greater risk compared to 50 per cent of board members.

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