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Increasing Security Breaches in Canada Causing Loss of $637,000 a year

Security software vendor - TELUS - in partnership with Roman School of Management conducted a study, which said that fraud; phishing and other kinds of data breaches are rapidly soaring in Canada.

According to reports, the TELUS survey, involving over 300 Canadian businesses, revealed that IT security violations are costing Canadian companies a median loss of over $637,000 a year.

Further, according to TELUS, the government's expenses on controlling Internet crimes such as phishing and data breaches on account of computer viruses and other malware are shooting to $320,000 per organization...

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