The cybercrime forecast is the latest assessment from the Canadian Centre for Cyber Security, with support from the RCMP.
It says ransomware — malware that holds vital digital information hostage for payment — is likely the most disruptive form of cybercrime facing Canada because it is pervasive and can have a serious effect on an organization’s ability to function.
The report says organized cybercriminal groups can reap large sums through their specialized technical capabilities, including development of tailored malware. “For example, some hospitals that were victims of cybercrime indicated the incidents disrupted their ability to care for patients, leading to longer hospital stays for patients, delayed tests or procedures, complications from medical procedures, and, in some cases, increased death rates.”
It notes a May 2021 ransomware attack on Colonial Pipeline led to a shutdown of the largest fuel pipelines in the United States, leading to price surges and fuel shortages for millions of Americans.
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