A recent study conducted by NordPass in conjunction with NordStellar has shown what features information attackers love in companies. One of the most endangered is the profile of a Canadian retail firm which matches the patterns of some 1,999 breaches of global data examined during the past two years. The work demonstrates that certain sectors and commercial classifications are more susceptible to cyberattacks.
Cybercriminals’ Top Targets: Canadian Companies in the Spotlight
NordPass researchers found out that SMEs across the world and especially the retail sector is under a severe threat of being breached. The general features related to company size, field of its activity, registration country are also influential in terms of risk. It is typically targeted toward businesses that are engaged in electronic commerce but have little resources allocated to security.
This, on its own, is not where the study ends; NordPass recently launched a free tool for businesses to measure their vulnerability to data breaches. It will help firms to identify their exposure to threats and adopt protections measures to prevent risks affecting their systems. It is just one of a series of approaches to deal with the many and growing cybersecurity issues for small businesses.
Karolis Arbaciauskas, head of business development at NordPass, emphasized the value of the research: “And it pays to know why some types of accounts or profiles are more attractive to hackers than others is. With this information firms can ensure adequate mitigation measures and ensure they are not part of those that fall prey to these scams.”
The implications of these findings are not only limited to Canadian retail businesses but can be simply generalized to other industries. Again, healthcare, education, and professional services sector also formed part of the high-risk industries. This report shows how small and large businesses alike need to increase their spending on cybersecurity and strengthen defensive measures significantly.
Retail and Tech Sectors: Prime Targets for Cyber Threats
The favourite business sector of cyber criminals has become retailing as 95 breaches were identified in the latest years according to specialists in the field. Following close on the heels of the financial industry, the technology sector experienced 56 breaches in the same period and was also ranked second most affected industry in the world. What has to be especially emphasized here are the existent fragilities despite digitally high-developed sectors and industries.
Notably, out of the top 10 industries most frequently attacked by the cyber actors, six belong to technology sector sub-industries including internet services, it consulting, software development & hardware production. This goa shows that they are not only targeting fronts that are widespread and more popular among customers, but back offices of tech companies.
The results are rather surprising to Karolis Arbaciauskas, a cybersecurity expert. ‘So it’s amazing since many people think that technology firms cannot be beaten up given that they specialize in IT.’ However, these companies are attractive targets because of the high value data they own and the fact that they often engage humans which make mistakes at times,” he pointed out.
In order to effectively address these threats it is necessary to employ a multiple-hinged strategy. Perhaps, training of workers is paramount to reduce cases of human errors, while adopting technologies that scan for risks and neutralizes them cements the defense. The preparation is more nuanced by routine audits and situational cyber exercises.
Retail and tech firms must respond proactively to these threats now more than ever before. With new tactics emerge in the digital world, so does the tactics of hackers , which proves the fact that even the most sophisticated industry cannot escape cyber threats.
Canada Among Top Cybercrime Targets Globally
A recent report on global cybercrime is out and Canada ranks sixth in the list of top affected markets; 37 business operations have been investigated for data breaches. The largest number of registered companies is observed in the USA, where 489 out of the analyzed companies are registered, India (114); the UK (73). EU is the region of interest where Spain and France are the most potentially vulnerable.
Cybersecurity expert Karolis Arbaciauskas defines such decline of attacks on online stores as the scale of opportunities in bigger markets. Hackers are obviously drawn to larger countries that contain more targets – companies and information. Still, no country is shielded from such threats and corporations have to do that independently, says he.
Still, the case of Canada shows that even mid-tier ranked markets are interesting to cybercriminals. Hence, this makes these markets attractive due to the integration of digital transformation, and inconsistent cybersecurity preparedness. Cybercriminals love to pounce at the cracks of protection systems, which are especially observed in industries dealing with customers’ personal information.
The results point at the notion that geography cannot prevent businesses from being targeted. Strategies, which includes regular vulnerability assessments, data encryption as well as constant training of employees would go a long way in preventing associated risks regardless of the region a company operates in.
Thus, the experience of hackers continuously developing their strategies, Canadian enterprises and other companies worldwide should focus on cybersecurity as a valuable element of their activity. It is even more concerning to realize that it is a steadily growing global threat that can be fought even more effectively through inter-industry and inter-country cooperation.
Small Businesses in Hackers’ Crosshairs
SMBs are quickly becoming a favorite for cyber thugs and their enterprises stand as easy targets for such hackers. One study that came out recently showed that majority of businesses that faced investigations over the last two years had up to 200 people on the payroll. On that, the experts agree that, perhaps, SMBs do not think that they have much value for hackers.
Most of these attacks for instance, credential stuffing, dictionary attacks and rainbow table attacks are large-scale attacks that target any company. Sloppy handling of passwords combined with malware downloaded and installed by employees is usually how these breaches start. But for SMBs, the aftermath can be disastrous – with the loss of revenues and potential client damage that puts them out of business.
The study also reveals that it is private businesses are most vulnerable, of the breaches analyzed, 85% occurred in private organizations. The reason for this is probably the fact that such companies possess valuable data, while at the same time, their cyber security is weaker compared to that of large listed corporations.
Thus, meeting with cybersecurity expert Karolis Arbaciauskas, one cannot help stressing the aspects of risks awareness and prevention. SMBs have to understand this value to hackers and what it implies for their businesses. Measures as basic as ensuring better passwords, the use of security products and training employees to become wiser help minimize threats greatly,”said Ong.
The solution also highlights that although SMBs might not have the same amount of resources as large organisations they can utilise cost effective strategies for reinforcement of their defences. They should ensure they change systems more often, use more layers of security such as biometrics, and ensure they associate with cybersecurity experts.
Protecting Your Business from Cyber Threats
If your business profile matches any of the segments mentioned above as high risk in the latest cybersecurity research, the sooner you act, the better. Karolis Arbaciauskas, a cybersecurity expert, revealed that every company and any company regardless of the size and kind should consider the issue of digital security to be an ultimate priority. Basic requirements such as having a password manager to securely store company credentials as well as having VPNs for encrypted connections are good places to start on the process.
The assessments of cyber threats are another key procedural safeguard, though much depends on their form. These audits prove useful in assessment of risks that confront the IT systems and a plan that needs to be implemented to mitigate these risks. This way, the businesses would greatly decrease the frequency of breaches and the ability for the business to handle the possible attack.
This is why training is important – human error is one of the biggest causes of cyber incidents. Additional training programs can let staff know more on how to identify fake emails, how to choose the right passwords, and general safety online. An educated staff is one of the best single frrst walls that any hacker is likely to encounter.
Lucky for the business, small or big, effective cybersecurity does not necessarily have to burn a hole through your pocket. Basic cost-effective measures such as two-factor authentication, the use of end point protection software, and continual system updates do a lot in containing attacks. If these measures are maximized they can give a good level of protection while not utilizing too many assets.
In a world with exposure to cyber threats and risks, it simply cannot be a case of ‘if we see it we shall deal with it’. With the help of new technologies, correct planning, and the general comprehension of the threats, companies can save their activities and people’s trust.
Study Methodology and Data Analysis
Present research undertaken in cooperation with NordStellar focuses on the global cybersecurity threats in the course of the last two years. The breaches were categorized in relation to the factors such as its operational country, sector, business type, company size and nature of data that was leaked. The work covers all the breaches that took place between the end of August in the year 2022 and the beginning of September in the year 2024, which gives us insights into the various types of cybersecurity risks.
The paper narrows its focus down to these particular variables, which is beneficial as it gives a clearer view on the sectors that are in a higher risk of being targeted and presents several factors may potentially contribute to increasing the company cybersecurity threat levels. The following all-encompassing breakdown is designed to help organizations improve the security of their networks to less likely future attacks.
