Canada's banking regulator recently updated its Technology and Cyber Security Incident Reporting requirements for financial institutions to disclose and report cybersecurity incidents. And, for the first time since 2013, it updated its Cyber Security Self-Assessment tool.
Data breaches costed companies $4.24 million per incident on average–the highest cost in the 17-year history of the report. It turns out that security incidents became more costly (10 percent more than last year) and more difficult to contain due to drastic operational shifts during the pandemic.
Are you evaluating software based on how it will help people get the information they need for informed and intelligent decisions, or are you limiting your sights to what is needed for compliance purposes?