Canada's Data Breach Costs Hit Record High as Energy Sectors Are Targeted

The average cost of a data breach in Canada has hit a record high of CA$7.11 million, according to a new report from IBM.

The study found that energy became Canada's most expensive cyber target, with an average breach cost of CA$9.21 million per incident.

A supply-chain compromise emerged as the largest factor increasing breach costs in Canada, adding approximately CA$367,899 on average.

Organizations using AI and security automation extensively experienced significantly lower breach costs and faster response times, with an average cost of CA$5.5 million per breach compared to CA$8.91 million for those without AI deployments.