Wednesday, October 27, 2021

Seven in 10 Canadian organizations facing ransomware attacks demand payment: Survey

OTTAWA—A new survey shows that nearly 70 percent of Canadian organizations that faced a ransomware attack last year paid demands to avoid downtime, reputational damage and other costs.

The annual Canadian Internet Registration Authority (CIRA) cybersecurity survey says the high number of ransom-paying groups comes from 17 percent who say they were attacked in the past year.

More than a third (36 percent) of organizations say they have introduced new security measures to meet growing pressure from hackers as more people are working from home, up from 29 percent who said so a year ago.

Nearly all (95 percent) of the 510 security businesses surveyed say that at least some of the new protections will be permanent while 64 percent support laws that prohibit paying ransom demands.

Mark Gaudet, CIRA’s general manager for cybersecurity and DNS services, said, “(Businesses) had to work and implement new policies, technologies and security training boot camps for employees – the security they were looking for long after the pandemic. plan to keep it up.”

The study also found that 59 percent of businesses have cybersecurity insurance as part of their business insurance, with many companies saying their premiums have increased and insurers are asking for more evidence of cybersecurity measures that they can take. are near.

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Canada has faced some high-profile ransomware attacks affecting hospitals, RCMP detachments and major energy pipelines.

The online survey, conducted in July and August of organizations with 50 to 999 employees, was released ahead of MapleSEC, a cybersecurity conference that began Tuesday.

“The pandemic seems to have forced the adoption of 10 years of cybersecurity in about 10 weeks,” Gaudet said.

“The pivot of employees working from home and using their own devices actually increased the number of security threats facing organizations, and the bad guys did everything they could to take advantage of the situation. “

The survey found that companies vulnerable to cyberattacks often deal with employee inability to complete tasks, increased costs, loss of revenue and damage to reputation.

The Canadian Research Insights Council, the professional body of the polling industry, states that online surveys cannot be assigned a margin of error because they do not sample the population at random.

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This News Originally From – The Epoch Times

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