Cybersecurity recovery costs for businesses soared to $1.2B in 2023 despite fewer incidents

By Karunjit Singh ( October 21, 2024, 4:54 PM EDT) -- Canadian businesses spent approximately $1.2 billion on recovery from cybersecurity incidents in 2023, up from approximately $600 million in 2021, despite a decline in the proportion of Canadian businesses impacted by such incidents, according to Statistics Canada's Canadian Survey of Cyber Security and Cybercrime (CSCSC)....