Canadian Cyber-Security Guidance For Financial Institutions

Espionage and criminal heists have enduring popularity whether as news or cultural entertainment. However, it is not just big business for reporters, authors and producers. In the digital era, some reports place losses from cybercrime and cyber-espionage in the hundreds of millions of dollars.

Nevertheless, there is a gap between perceived risk and action. A 2013 report by KPMG LLP (Canada) and The Gandalf Group demonstrated that Canadian executives understand that cybersecurity issues are an important overall organizational risk, only 24% surveyed are confident in their cyber-security efforts. Perhaps more disturbing, Canadian executives also believe that it will be someone else that will be attacked.