A cyberattack on Suncor has left the company and its customers looking for answers.
Driving the news: The Canadian energy giant is still reeling from the effects of a cyberattack that hit the company last weekend. Payment systems are down at a number of Petro Canada stations nationwide, and the website and app have also been affected.
- The company’s costs are piling up as they enlist an army of IT experts to mitigate the effects of the attack, while cashless customers are taking their business elsewhere.
Why it matters: This is the latest example of a cyberattack affecting the infrastructure of a major Canadian company. One report suggests that 44% of Canadian businesses faced a cyberattack last year, compromising data and devices and costing ~$6 million on average.
- Indigo faced a ransomware attack that took down Indigo’s e-commerce website this year, resulting in $31.7 million lost between the incident and lost sales.
Zoom out: In response to the growing threat of cyberattacks, Canadian businesses have committed billions more to cybersecurity. That’s offered a boon for Blackberry, which yesterday reported a surprise profit owing to strength in its cybersecurity business.—LA