F12.net has released Cybersecurity Trends Report in Canada (2024-2029), providing mid-sized organizations with specific recommendations to strengthen their cyber resilience.
The report draws from trusted industry research, threat intelligence, and regulatory updates, and finds that 72% of Canadian small and medium sized businesses (SMBs) reported experiencing a cyber attack in the past year.
Cybersecurity is now a core business issue — directly tied to operational continuity, regulatory compliance, and customer confidence. Canadian businesses can’t afford to be reactive; they need adaptive security strategies that scale with the evolving threat landscape.
Calvin Engen, Chief Technology Officer, F12.net
Highlights from the report include:
- Ransomware incidents are increasing: 79% of ransomware victims paid attackers, pointing to a lack of preparedness and response planning.
- AI-powered attacks are advancing – threat actors are using artificial intelligence to automate and personalise attack campaigns.
- Cloud misconfigurations are exposing data: 12% of cloud security incidents stem from configuration errors, leaving sensitive information exposed.
- Regulatory pressures are mounting: Bill C-27’s Consumer Privacy Protection Act introduces new obligations, including potential penalties of up to 5% of global revenue.
Cyber resilience actions for Canadian businesses
The Cybersecurity Trends Report in Canada (2024-2029) outlines the following actions:
- Implement zero trust frameworks to control access and reduce risk exposure.
- Strengthen cloud governance with encryption, multi-factor authentication, and continuous monitoring.
- Prioritise employee training to limit phishing and social engineering risks.
- Leverage managed security services for 24/7 threat detection and response.
- Align security policies with emerging compliance regulations.
