RISK: A third of Canadian companies couldn’t detect a cyber attack: EY

A third of Canadian businesses don’t think they could detect a cyber attack, EY’s Global Information Security Survey reveals.

“The key to effective use of threat intelligence lies in relating it to business context quickly, or face the inevitable drowning in a sea of irrelevance,” says Abhay Raman, EY’s Canadian Cyber Security Leader. “Companies need to consider how to filter the useful information from the useless. In other words, they need to plan for this onslaught of data before they are buried in it.”

The source of a cyber attack often depends on the industry a business is in.

IndustryLikely sources
of cyber attacks
Top priorities for
information security
Consumer productsEmployees: 61 percentCriminal syndicates: 52 percentExternal contractors: 43 percentBusiness continuity/disaster recovery resilience: 59 percentData leakage/data loss prevention: 50 percentIncident response capabilities: 40 percent
Banking and capital marketsCyber attacks to steal financial information: 21 percentMalware: 20 percentFraud: 19 percentData leakage/data loss prevention: 67 percentBusiness continuity/disaster recovery: 56 percentIdentify and access management: 56 percent
Power and utilitiesOutdated security information, careless or unaware employees, malware: 20 percent eachBusiness continuity/disaster protection: 52 percentData leakage/data loss prevention: 44 percentSecurity operations, such as anti-virus, patching, encryption: 43 percent


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