Canadian businesses risk overlooking cybersecurity: KPMG

With cybersecurity breaches on the rise, many Canadian business leaders are less confident in their ability to deal with an attack, underscoring more than ever the importance of staying vigilant even if they feel buffeted by near-term headwinds like a potential recession, new KPMG research released today reveals.

According to KPMG International’s Global CEO Outlook Survey, the number of CEOs at large Canadian companies who said they were “well prepared” or “very well prepared” for a cyberattack fell 17 percentage points from last year, and those who said they were “underprepared” jumped three-fold.

They reported an even bigger drop – nearly five-fold – in their level of preparedness against a specific cyberattack like ransomware (malicious software that holds data hostage in exchange for a ransom), the consulting firm said.

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