Date of analysis: 12/10/2021

Why Should Canada Consider Improving its DMARC Adoption Rate?

Since the start of the pandemic, online fraud has blown out of proportion with cybercriminals resorting to various methods of defrauding organizations, stripping them off their data, assets, and customers. Canadian organizations have also witnessed a spike in the rate of phishing attacks, BEC, ransomware attacks, and domain spoofing attempts since the viral outbreak, with more and more companies adopting remote working environments.

Now is not the time to sit idle, rather the situation calls for improving your defenses against impending attacks starting immediately!

DMARC Adoption in Canada: 2021 Report

Assessing the Threat Landscape
  • In the 2020 Cyberthreat Defense Report (CDR) it came to light that 78 percent of Canadian organizations experienced at least one cyber attack within a 12-month period, all of which were successful attacks.
  • More than 70% of Canadian businesses faced Ransomware attacks between 2020-2021, making it the 6th most attacked country in the world in the past 1 year, with the average cost exceeding $400,000
  • The report also highlighted the fact that only 74% of businesses in Canada support AI-based security solutions and email authentication practices
  • Only a small percentage of Canadian companies (26%) were successful in setting up preventive measures against suspected Ransomware attacks
  • In a Data Breach Report by IBM  formulated in 2020, the average loss of financial assets dealt by Canadian organizations due to data breaches was estimated to be a whopping $4.5 million in the past 1 year
  • In between 2020-2021, 525 Canadian organizations fell prey to spear-phishing scams which led to the loss of $14.4 million in assets
  • Phishing attacks and fake email scams spiked up considerably in the COVID and post-COVID conditions

The above-mentioned statistics on ransomware, data breaches, and phishing attacks in Canada over the course of the past 1 year, raise some serious concerns:

    • What is the current situation of DMARC adoption and enforcement in organizations in Canada?

    • How can we improve the cybersecurity and email authentication infrastructure in Canada to mitigate impersonation attacks?