In contemporary times, hackers often maintain a notable edge over various entities, including large corporations with substantial budgets, top-tier cybersecurity experts, government agencies, and law enforcement bodies. While efforts to counteract these cyber threats persist, there remains a fundamental question: do we possess a clear understanding of the identities and methodologies of these perpetrators?
Addressing Canada's major hacking problem is no easy feat, even for hackers with impressive skills. Ethical hackers, who aim to help, often find themselves bogged down by legal red tape and ethical boundaries, making it tough to get the authorization they need. Plus, there's the constant struggle for resources—money, tech, and trained staff—that makes it hard to mount a comprehensive defence. And let's not forget how quickly cyber threats evolve; it's like trying to hit a moving target. Access restrictions and a lack of collaboration among different groups only add to the challenge. To really tackle this issue, Canada needs to simplify its legal processes, invest more in resources, encourage teamwork, boost awareness, and build partnerships to strengthen its cybersecurity efforts and keep those hackers at bay.
In 2016, the University of Calgary encountered a significant cybersecurity incident when it fell victim to a ransomware attack. Ransomware is a type of malicious software that encrypts files on a victim's computer or network, rendering them inaccessible until a ransom is paid. The attack on the University of Calgary resulted in critical university data being encrypted by hackers, effectively locking administrators out of their own systems.
The ransomware attack targeted various systems and databases within the university's network, impacting essential operations and hindering access to vital academic and administrative resources. This included research data, student records, and administrative files, disrupting the university's day-to-day activities.
In response to the attack, the university faced the difficult decision of whether to pay the ransom demanded by the hackers to regain access to their encrypted data. Ultimately, the University of Calgary decided to pay the ransom, amounting to approximately $20,000, in an attempt to restore access to its systems and mitigate the disruption caused by the attack.
The incident served as a stark reminder of the growing threat posed by ransomware attacks to academic institutions and organizations worldwide. It underscored the importance of robust cybersecurity measures, regular data backups, employee training on cybersecurity best practices, and incident response plans to mitigate the impact of such attacks and protect sensitive data from falling into the hands of cybercriminals.
To enhance cybersecurity defences against hackers in Canadian companies, it is imperative to implement a multifaceted strategy. This strategy should include investing in comprehensive cybersecurity education and training programs for employees, enforcing strong authentication methods like multi-factor authentication (MFA), conducting regular security audits and assessments to identify vulnerabilities, implementing data encryption and access controls to protect sensitive information, developing robust incident response plans, fostering collaboration and information sharing among stakeholders, investing in advanced cybersecurity technologies, ensuring compliance with relevant regulations and standards, managing third-party risks effectively, and considering cyber insurance coverage. By prioritizing cybersecurity measures and adopting a proactive approach, Canadian companies can better protect themselves against cyber threats and minimize the impact of potential cyber-attacks and data breaches.
“This blog was written by the Activated Solutions team. If you are a business owner or an individual concerned about your cybersecurity, it's time to take action. Activated Solutions can help you to protect your business and personal data from potential cyber threats.
Contact Activated Solutions today to learn more about how they can help you protect your business. With our expertise and commitment to cybersecurity, you can have peace of mind knowing that you are taking proactive steps to protect yourself and your business from potential data breaches.
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Work Cited
Open AI. "YouTube: Home." 9 November 2017, https://chat.openai.com/c/531903a8-4d89-408f-9cfc-a8092d145a2d. Accessed 5 March 2024.
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