A survey by Statistics Canada has found the cost of being hit with a cybercrime has risen substantially and creates burdensome business overheads.
The survey, titled “The Changing Landscape of Cyber Security Following the COVID-19 Pandemic,” found the average cost of dealing with a cybercrime rose to $19,000 in 2021, compared to $11,000 just two years earlier.
The numbers in individual cases can be quite high. The average cost of cybercrime for a large business with over 250 employees was $172,000 in 2021—a big jump from $73,000 in 2019.
However, the frequency of such attacks has diminished slightly. The survey found 18 percent of businesses reported a cyber security incident in 2021, down from 21 percent in 2019….