Canada went on high alert for ransomware attacks on Feb. 24, the day Russia invaded Ukraine.
Canada’s Communications Security Establishment (CSE) warned Canadian banks, power utilities and other major firms that day “to take immediate action and bolster (your) online cyber defences.”
Ransomware attacks were already a growing threat to Canadian businesses, hospitals, government agencies and other organizations before Russia-based cybercriminals loyal to Moscow were given additional incentive to attack victims in Western countries that sanctioned Russia to reverse its invasion of Ukraine.
In a landmark survey of Canadian employers conducted last year, Telus Corp., the telecom giant, reported that 83 per cent of the 463 Canadian businesses and other organizations participating in the survey had experienced an attempted ransomware attack.
More than two-thirds were unable to thwart the attempt and suffered the attack. About 44 per cent of those victims paid the ransom demanded by the cybercriminals who had encrypted their data and effectively frozen their computer systems.
The average ransom paid was $140,000. Ransom paid by large organizations reaches into the tens of…
