Canadian Businesses Face Cyberattacks, Spend $14B on Cybersecurity
Hikvision Takes Proactive Approach to Cybersecurity
A new Statistics Canada survey found that one in five Canadian companies were victims of a cyberattack last year, and spent $14 billion on cybersecurity, according to an article in Canadian Security magazine.
“Canadian businesses continue to rapidly embrace the Internet and digital technologies, which expose them to greater cybersecurity risks and threats. However, the impact of these risks and threats on the investment and day-to-day decisions of businesses are not easily understood as cybersecurity incidents often go unreported,” said Statistics Canada, in the article.
The article referenced recent data security breaches, including Facebook, Air Canada, the Bank of Montreal, and the 2017 Equifax security breach, as an indication of the proliferation of cyberattacks. The study found large businesses with 250 or more employees were at greater risk of being cyberattack targets. In addition, cyberattacks in 2017 resulted in an average of 23 hours of downtime per company.
The survey also uncovered that Canadian businesses spent the following in 2017:
- $8 billion on cybersecurity staff and contractors
- $4 billion on related software and hardware
- $2 billion on other prevention and recovery measures
Data was collected from 12,597 Canadian businesses between Jan. 2018 and April 2018, with a response rate of 86 percent, according to Canadian Security. Click here to read the entire article.
Hikvision North America has taken a proactive approach to cybersecurity with numerous initiatives, including the launch of its dedicated cybersecurity hotline in 2017 and the Source Code Transparency Center in 2018. Hikvision also hosted a Canadian cybersecurity road show in 2017, followed by a U.S. cybersecurity road show that visited numerous cities throughout 2018. In addition, Hikvision has an online Cybersecurity Center with firmware updates, and has posted a series of blogs offering cybersecurity best practices and insights. Visit us here for more.