Canada Faces Surge in Cyber Attacks Are Businesses Really Ready?

Canada is staring down a dramatic spike in high-impact cyber attacks. According to QBE’s latest Control Risks Report, the number of disruptive and globally significant cyber incidents is projected to triple by the end of 2025, rising from just 10 in 2023 to a projected 32 this year. From ransomware to large-scale data breaches, these events are no longer rare they’re becoming a defining threat to operational continuity, financial stability, and national security.

The report is grounded in data gathered from 400 medium-sized Canadian businesses. What stands out is that 53% of those surveyed experienced at least one cyber event over the past year. Among those, nearly one in five dealt with disruptions lasting a full business day or longer. For many, the damage wasn’t limited to downtime—51% reported direct revenue losses, and more than half of these attacks were tied to vulnerabilities in their supplier networks.

That last point hits especially hard. In an increasingly interconnected business environment, it’s not enough to lock down your own digital infrastructure. A single weak link in your supply chain can open the door to serious consequences. As QBE’s Kyle Gray aptly noted, cybersecurity now requires a panoramic view organizations must scrutinize not only their internal protections but also the resilience of their third-party vendors and service providers.

Despite growing concern 78% of businesses are worried about future threats many are still lagging in key areas. One in four has no cyber insurance, and 15% have no incident response plan. In industries like auto collision and repair, the impact has already been felt. Ransomware attacks on companies like Craftsman Collision, the Boyd Group, and more recently, software provider CDK Global, have caused widespread disruption, financial losses, and legal action. The message is clear: cybersecurity gaps are no longer hypothetical they’re operational liabilities.

While it’s encouraging to see a large majority of Canadian companies exploring artificial intelligence either using it already or planning to it’s crucial that AI adoption be matched with equally advanced cybersecurity frameworks.

This is where Directpath Global Technologies (DGT) can help. As a Managed Security Service Provider (MSSP), DGT offers solutions like Mobile Threat Defense (MTD), Extended Detection and Response (XDR), Vulnerability Assessment and Penetration Testing (VAPT), SOC2 compliance support, VRMaaS, Web Application Firewall (WAF), and vCISO services. With an in-house AI Division, DGT goes beyond just security helping organizations apply intelligent systems across operations to drive resilience and growth.

Canada’s cyber threat landscape is evolving rapidly. Businesses that take proactive, comprehensive steps to protect themselves and their ecosystems will be the ones that stay competitive, credible, and safe in 2025 and beyond. Source: Collision Repairmag.com