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Canadian companies overestimate their preparedness for cyber risks

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July 13, 2018 10:30

When asked to compare themselves to their competitors, 84 % of canadian businesses say they would be more ready than the average or even very effective to deal with cyber risks, according to a survey of the consulting firm cyber security FICO. The same survey conducted last year revealed that this proportion was 52 %.

«Despite the growth of violations of data protection, the managers responsible for the safety of canadian companies are incredibly confident in their preparedness to cyber security «, argued the analyst ofOvum, a firm commissioned by FICO to conduct the survey.

44 % are ranked among the best companies

The survey, conducted among 500 companies in Canada and in ten other countries, reveals that the canadian respondents are the most confident of all regions where the study was done, while 44% are ranked among the best companies in the field of protection of cyber security.

The company explains that this excess of optimism on the part of companies surveyed is caused by a «lack of ongoing assessment and objective» of their positioning in the field of cyber security.

38% use of assessment tools

Although they say they are confident, only 38% of companies use tools to provide an «assessments» of their risks in the area of cyber security, says FICO.

«It is alarming to learn that the organizations are too confident in their preparation to cyber security, says Kevin Deveau, vice-president and managing director of FICO Canada. This level of confidence can lead to complacency, which is dangerous. Cyber security is a constant struggle that requires attention. The fact that the overwhelming majority of companies feel above the average shows that there is a lack of understanding of the true industry averages. «

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