Businesses are increasingly defrauded through common scams known as business email compromise scams (BEC scams) for which they do not have insurance to cover the resulting losses. Fortunately, there are easy-to-implement...more
Asking the right questions within your organization is key to effectively managing cyber risk. Here are 10 questions that you should ask your team...more
4/4/2025
/ Canada ,
Cyber Attacks ,
Cybersecurity ,
Data Privacy ,
Data Security ,
Incident Response Plans ,
Policies and Procedures ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Third-Party Risk
OSFI, the Canadian Federal Office of the Superintendent of Financial Institutions, on August 13, 2021, issued new guidance on Technology and Cyber Security Incident Reporting, replacing prior guidance of March 2019....more
8/31/2021
/ Canada ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Financial Institutions ,
Financial Services Industry ,
Hackers ,
Personally Identifiable Information ,
Popular ,
Risk Management
Insurer AXA, among Europe's top five insurers, recently announced that it was suspending insurance coverage in France for ransomware extortion payments. AXA said it made this decision in response to concerns raised by French...more
As the COVID-19 outbreak continues, scammers and hackers are taking advantage of the fear and confusion surrounding the current circumstances by posing as reputable news sources, or offering information. These malicious...more
Between 2016 and 2019, Business Email Compromise (BEC) scams cost American organizations US$3.1 billion in losses and Canadian organizations US$33.6 million. This type of pervasive scam targets large and small businesses...more
10/8/2019
/ Business E-Mail Compromise (BEC) ,
CEOs ,
Cyber Attacks ,
Cybersecurity ,
Email Policies ,
Fraud ,
Internal Controls ,
Popular ,
Risk Management ,
Scams ,
Small Business ,
Vulnerability Assessments
The recently announced federal government cybersecurity certification program is targeted at small- and medium-sized enterprises (SMEs), but larger organizations should also take note....more
The Office of the Information and Privacy Commissioner of Ontario (OIPC) released its 2018 Annual Report: Privacy and Accountability for a Digital Ontario on Wednesday, July 10, 2019. This report signals a move toward...more
7/16/2019
/ Artificial Intelligence ,
Canada ,
Cyber Attacks ,
Cybersecurity ,
Data Collection ,
Data Protection ,
Faxes ,
Personally Identifiable Information ,
Popular ,
Privacy Concerns ,
Regulatory Oversight
There is a lot of money—both fiat and virtual—in cryptocurrencies.
The growth of these blockchain-based online assets made headlines throughout 2017. The price of Bitcoin, likely the best-known cryptocurrency, rose from...more
Cybersecurity threats to registered firms continue to rise but efforts to protect against those threats and to plan for the inevitable attack are not keeping up....more
If you are a healthcare data custodian that is subject to a ransomware attack, you may be required to report the incident to regulators and to those individuals whose information was subject to the attack....more
The recent global ransomware attack (WannaCry) was yet another reminder of the increased threat posed by cyber breaches. While cybersecurity attacks are inevitable, organizations (and their directors and officers) may still...more
The serious WannaCrypt ransomware worm which ran roughshod over internet connected computers worldwide on Friday and Saturday appears to have been stymied, at least temporarily, by security researchers. In the meantime,...more
Given the increasing threat of cyberattacks and the corresponding costs, businesses are increasingly considering cybersecurity insurance. But insurance is only as effective as the scope of the coverage. Though Canadian...more
Names, emails, credit card numbers, and home addresses: chances are good that your business collects client data with information that is valuable to hackers on the black market. A hacker will at some point try to access...more
Your organization will in all likelihood suffer a cyberattack. According to a recent study by Accenture, the average Canadian organization faces about 96 cyberattacks per year, nearly one third of which result in a security...more
2/17/2017
/ Canada ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Security ,
Directors ,
Hackers ,
Home Depot ,
Information Technology ,
Risk Management ,
Shareholders
Cybersecurity attacks through the use of ransomware are an increasing threat to Canadian businesses.
Ransomware is a malicious software that is secretly installed on a target’s computer and encrypts files, making them...more
The threat of commercial crime against companies is transforming. Technology has created new and innovative ways for fraudsters to exploit individuals and companies through cyber attacks. This new face of fraud can give rise...more
2/5/2016
/ Anthem Insurance ,
Ashley Madison ,
Blue Cross ,
Canada ,
Competition Authorities ,
Cyber Attacks ,
Data Breach ,
Federal Trade Commission (FTC) ,
Home Depot ,
Neiman Marcus ,
Personal Liability ,
PIPEDA ,
Risk Management ,
Sony ,
Target