ThinkTWENTY20

TORONTO, November, 2019: A survey conducted by Financial Executives International Canada (FEI Canada) among financial executives reveals organizations are not prepared to respond to a cyber breach that could significantly affect their operations. While 98 per cent of participants are concerned about a cyber breach, only 15% have sufficient preparations in place in three critical areas of readiness: 

1. Legal 

2. Crisis communications 

3. Cyber insurance 

Participants responded to survey questions on these three areas and were then given a risk score for each as well as an overall risk level for their organization. “The results have shown that 34% of organizations have been subject to a breach in the last five years,” said Catherine Fels-Smith, president of FEI Canada. “Organizations and their executives need to take control of their cyber breach preparation or risk significant damage that goes beyond data privacy.”

To see the full survey results, please go to:

https://www.feicanada.org/ajaxfilemanager/uploaded/FEI%20Canada%20Exclusive%2C%20Cybersecurity%20Assessment%20Press%20Release%20EN_1.pdf