Card details are verified for protection speculation by three central services. “A significant proportion of businesses that suffer serious cybersecurity attacks do not survive.IndigoCard Pay is a reliable credit card service so that users don’t need to worry about their balance or creditworthiness. “These attacks can be devastating for organizations,” Finlay said. The average cost of a successful cyberattack for a small business is $26,000, she said. “Cyber criminals are always developing more advanced and sophisticated ways of trying to trick you and break through a business’s defences.” “There is a real risk for the survival of small businesses,” she said. More than half of small businesses close within six months of a cyberattack, said Mandy D’Autremont, vice-president of marketing partnerships at the Canadian Federation of Independent Business, which offers a training program for business owners and their employees on how to improve cybersecurity. While big companies with deep pockets usually survive cyberattacks, smaller businesses often don’t fare as well, experts say. “Some organizations recover fairly quickly but it can be catastrophic for others.” “There are companies out there that are ripe for the picking and these threat actors are firing these attacks out and just seeing what sticks,” he said. “It takes time for corporations to really develop a comprehensive cybersecurity plan,” said Mark Hubbard, senior vice-president of information technology for First Onsite Property Restoration. The incident in early November left customers unable to fill prescriptions at the chain’s pharmacies for four days, while other in-store functions like self-checkout machines, gift card use and the redemption of loyalty points were off-line for about a week.Įmpire later said the attack was expected to cost $25 million after insurance recoveries. experienced a security breach late last year. Indigo spokeswoman Melissa Perri said the company was continuing to work with third-party experts to investigate the situation and understand whether any customer data has been accessed.Ĭanadian retailers have experienced a growing number of cyberattacks in recent months. The bookstore has said customers may experience delays with part or all of online orders and returns, while its stores were still unable to accept returns in person. On social media, Indigo told customers it changed its in-store payment technology as part of its incident response. The company said it was working with third-party experts to investigate and resolve the situation.Īlthough the bookstore is once again able to accept debit, credit and gift cards in stores, Indigo’s website remained off-line on Monday. Last week, Indigo said it had experienced a “cybersecurity incident” impacting its website and electronic payment system. “Every organization either already has been the victim of an attack, or will be the victim of an attack.” “It’s not if but when these attacks will occur,” he said. “These attacks are becoming more prevalent and more sophisticated,” said Charles Finlay, executive director of Rogers Cybersecure Catalyst at Toronto Metropolitan University. The ongoing outage of the bookstore’s website serves as a warning of the mounting dangers facing organizations and individuals online, experts say. on Monday, illuminating the growing risk of cyberattacks on Canadian companies and consumers. A cybersecurity incident stretched into its fifth day at Indigo Books & Music Inc.
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