Canadian firms overconfident regarding cybersecurity

A FICO survey says more than half of companies feel they're more prepared than competitors

 Though 76% of Canadian firms anticipate the number of data breaches will increase over the next year, some may be overconfident about their preparedness.

Analytics firm FICO has released a survey finding that 28% of companies in Canada and other countries say their cybersecurity is among the best in their industry, and 24% say theirs is above average for their sector. FICO commissioned research firm Ovum to survey 350 companies in Canada, the U.S., the U.K. and the Nordics.

Out of all industries, firms in the telecommunications sector feel the most prepared for cyber threats. Respondents were the most confident of all those surveyed, with 45% of telecoms assessing themselves as top performers. The industry also appears to be the most committed to investing in cybersecurity, with 64% planing to increase spending in the next 12 months.

“It takes more than just firewalls to be prepared for an attack. Firms should be thinking about analytics as well. This allows them to learn from any attempted breaches and continue to strengthen their defenses over time,” says Kevin Deveau, vice president and head of FICO Canada, in a release.

Copyright © 2017 Transcontinental Media G.P.
Transcontinental Media G.P.