Canadians Quickly Lose Confidence in Organizations with Poor Cybersecurity

Posted: April 8, 2023

It stands to reason that a business or organization that experiences a data incident will also see some level of backlash when that incident comes to light. However, it can be easy to overlook how deep this backlash can run. For instance, how would your client base react to the news that you had been infected by ransomware? If you answered somewhere along the lines of “terribly,” you certainly aren’t alone.

Let’s get into the weeds a little and examine just how damaging insufficient cybersecurity can be to your business’ reputation.

Ransomware and Other Attacks are Surging

Did you know that, in 2022, 67 per cent of Canadian businesses reported experiencing a ransomware attack, according to a TELUS Canadian Ransomware Study. Businesses have to protect themselves because cyberattacks are increasing in frequency and severity.

These kinds of protections are only more important to implement, as a somewhat recent (as of this writing) survey indicates. While the survey wasn’t taken from as large or diverse a sample as we’d prefer (1,611 Canadians who had opted into the voluntary Angus Reid Forum), the results just go to show that cybersecurity is important for your organization’s reputation as well as its practical defenses.

This voluntary survey demonstrated a clear relationship between the trust that respondents felt for organizations and those organizations’ security records. For instance:

  • 48% indicated they weren’t confident in the cybersecurity utilized by their utility providers.
  • 45% indicated they weren’t confident in the cybersecurity utilized by Elections Canada, the Canada Revenue Agency (which was targeted by a cyberattack just last summer), and student loan assistance providers.
  • About 30% of respondents weren’t confident in the cybersecurity utilized in their bank or other financial institution.
  • 77% of respondents lacked trust in social media platforms and the cybersecurity they utilize.

It is important to point out that these results are likely somewhat skewed, as it was a voluntary survey funded by the Angus Reid Institute that only collected data over a period of four days. Having said that, it still represents how important it is to manage your business’ cybersecurity.

That’s where we come in.

Digital Sky exists to assist businesses with their information technology needs, including their cybersecurity. You want your clientele and customer base to be confident in your ability to protect whatever data they share with you as part of your business’ transactions. We can help prevent you from giving them a reason not to be.

Give us a call at (250) 483-5623 to learn more about our services.

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