Canadian companies seen lacking financial muscle to guard against cyberattacks

This is not good for Canada. As more Canadian shop online, and use their smartphones for an array of applications, our companies must continue to invest in technologies that will reduce risk and enhance customer experience!

Financial Post

Canada’s strict privacy legislation — and the required data checks and balances — helps businesses boost their defences against cyberattacks such as the devastating Sony Pictures hack where celebrities’ social security numbers and salaries were leaked, but Canadian firms are cutting their cybersecurity budgets and fewer system breaches are being detected, security professionals warn.

[np_storybar title=”Hack that crippled Sony Pictures’ computers highlights growing threat of malware as cyber weapons” link=””]The hacking of Sony Pictures Entertainment points to a type of attack security experts have long dreaded: one that uses the sophistication of a foreign government to destroy systems rather than just steal data.

There have been a handful of such incidents around the world and they are likely to grow more common, either to further a political agenda or hide evidence of theft or espionage, said Michael Chertoff, former secretary of the U.S. Homeland Security Department. Keep reading.

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