Cybersecurity Alert: Canadian Firms Stepping Up to Combat Growing Threats

As cyber threats continue to evolve and multiply, Canadian businesses are responding with a renewed commitment to cybersecurity. A recent report from PwC, the “2025 Digital Trust Insights Survey,” highlights that a striking 77% of Canadian firms prioritize cyber risk mitigation in the coming year, outpacing both North American and global figures. In comparison, only 61% of North American businesses and 57% of global respondents expressed the same urgency about addressing cybersecurity risks.

The survey, which gathered insights from over 4,000 business and technology leaders across 77 territories, underscores the unique challenges faced by Canadian organizations. Despite their heightened focus on cyber risk mitigation, these companies feel less confident in their ability to tackle the cybersecurity threats that keep them up at night. Among the top concerns are cloud-related threats, third-party breaches, ransomware attacks, and hack-and-leak operations. Alarmingly, 41% of Canadian respondents reported feeling unprepared for cloud-related threats, significantly higher than the global average of 34%.

The growing reliance on cloud technologies and the increasing integration of generative AI (GenAI) are major contributors to this expanded attack surface. Over a quarter of Canadian respondents identified cloud technology as a significant factor in their heightened exposure to cyber threats, while 22% cited GenAI. As businesses leverage these advanced technologies to enhance operations, they must also confront the vulnerabilities they introduce.

Financially, the impact of data breaches remains substantial. The survey revealed that 15% of Canadian firms reported experiencing a significant data breach in the last three years, with associated costs ranging from US$1 million to $9.9 million. While this figure is lower than the 21% reported across North America, it still highlights the serious financial ramifications of cybersecurity incidents.

Looking forward, Canadian firms anticipate bolstering their cybersecurity efforts, with 39% planning to increase their cybersecurity budgets by up to 5% in 2025. This proactive stance is crucial as businesses aim to enhance their defenses against an increasingly sophisticated threat landscape.

In this climate of heightened awareness and urgency, organizations must consider comprehensive strategies to protect their assets and data. At Directpath Global Technologies (DGT), we understand the unique challenges faced by businesses today. As a Managed Security Service Provider (MSSP), we offer tailored solutions that include Mobile Threat Defense (MTD), Extended Detection and Response (XDR), and Vulnerability Assessment and Penetration Testing (VAPT). Our advanced Artificial Intelligence Division is equipped to customize services not just for cybersecurity but for a broad spectrum of operational needs.

The time for action is now. With the majority of Canadian businesses prioritizing cyber risk mitigation, investing in robust cybersecurity measures is not just a smart business decision—it's a necessary one. As the landscape evolves, those organizations that take proactive steps to fortify their defenses will be best positioned to navigate the complexities of modern cyber threats.

Source: PwC’s 2025 Digital Trust Insights Survey and Insurance Business