While Canadian business leaders appear confident in the recovery of the global economy, they do express serious concerns about cyber attacks. These concerns would outweigh the economic risks associated with the pandemic.
According to a PricewaterhouseCoopers Canada survey, most CEOs expect their income and profitability to rise in the near future. However, since the majority of Canadian companies have adopted teleworking, there has been a staggering increase in cyber attacks, regardless of the sector.
This new reality affects the confidence of business leaders. Cyber security and privacy issues worry 87% of CEOs surveyed by PwC. Almost half say they are “extremely worried”.
Faced with this situation, more than two-thirds of entrepreneurs plan to increase the budget allocated to cybersecurity and data privacy.
It seems that human error is the biggest flaw when it comes to cybersecurity, as most attacks involve interactions between people.
According to the Proofpoint report in the United States, a major problem currently in Canada is email fraud, such as ransomware. There are also problems with weak passwords or the use of unauthorized devices or software.
Although cybersecurity is a big issue in 2021, businesses are constantly looking for ways to protect themselves and maintain public trust, without spending astronomical sums on it.
To find out more : Child pornography: protect your children