CISO, CTO

Financial Services

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Digital surfaces

Banking Apps

Wealth Portals

Trading APIs

Threat themes

Fraud
Data Theft
Regulatory Non-Compliance

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Verified industry data · Canada

Cyber security incident impact in Finance and insurance

Statistics Canada reports this figure for its source-defined Finance and insurance sector category in Canada. It provides relevant sector context for finance and banking organisations; it is not banking-only evidence.

Canada · Finance and insurance sectorReference period: 2023

Enterprises impacted by cyber security incidents

Finance and insurance enterprises

25.5%

Unit: percent
Source: Statistics Canada, Table 22-10-0076-01, 2023
Period: 2023
Scope: Canada Finance and insurance sector

Reported as impacted by cyber security incidents in 2023.

Published estimate quality indicator: B. This is Finance and insurance sector context, not banking-only evidence.

Source: Statistics Canada, Table 22-10-0076-01, 2023

Scope: Statistics Canada Finance and insurance category in Canada; not banking-only evidence. Published estimate quality indicator: B.

Methodology: Official Statistics Canada table from the Canadian Survey of Cyber Security and Cybercrime. The table reports source-defined industry categories for Canada in 2023 and may publish estimate quality indicators. Every admitted metric and presentation must retain its source-defined sector label and published quality indicator, and must not be reframed as a narrower sector than the table reports.

Accessible data table

Verified Canada Finance and insurance sector context data from Statistics Canada, Table 22-10-0076-01, 2023, reporting period 2023.
Metric	Value	Source	Scope	Reporting period
Finance and insurance enterprises	25.5% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian Health care and social assistance enterprises impacted by cyber security incidents in 2023.	12.2% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian enterprises in the source-defined Information and cultural industries category impacted by cyber security incidents in 2023.	24.7% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian Manufacturing enterprises impacted by cyber security incidents in 2023.	19.2% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian enterprises in the source-defined Transportation and warehousing category impacted by cyber security incidents in 2023.	16.7% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian enterprises in the source-defined Professional, scientific and technical services category impacted by cyber security incidents in 2023.	21.1% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian enterprises in the source-defined Real estate and rental and leasing category impacted by cyber security incidents in 2023.	18.8% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023
Percentage of Canadian Construction enterprises impacted by cyber security incidents in 2023.	12.6% percent	Statistics Canada, Table 22-10-0076-01, 2023	Canada Finance and insurance sector	2023

Verified market cyber context · Canada

Reported cyber security impact and preparedness context for Canadian businesses

Market context — not industry-specific evidence

These figures are drawn from Statistics Canada’s Canadian Survey of Cyber Security and Cybercrime for 2023. Total business spending on recovery from cyber security incidents reached CAD 1.2 billion in 2023, approximately double the approximately CAD 600 million reported in 2021. The figures below describe business-wide reported cyber context and recovery-spending context among surveyed Canadian enterprises with 10 or more employees, excluding public administration; they are not industry-specific findings for the sector shown on this page.

Canada · Businesses with 10 or more employees · Public administration excludedReference period: 2023

Businesses impacted by cyber security incidents

Canadian businesses

16%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Reported being impacted by cyber security incidents in 2023.

Methods affecting impacted businesses

Scams and fraud

50%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Identity theft

31%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Ransomware

13%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

These percentages refer to businesses already impacted by cyber security incidents; they are not percentages of all Canadian businesses.

Selected cyber preparedness signals

Risk identification activities

59%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Written policies

26%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Cyber risk insurance

22%

Unit: percent
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Canada business-wide survey context; these measures are not an industry-specific readiness assessment.

Cyber incident recovery spending by business size — CAD million (2023)

Large businesses

500

Unit: CAD million
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Medium businesses

300

Unit: CAD million
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Small businesses

300

Unit: CAD million
Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023
Period: 2023
Scope: Canadian businesses with 10 or more employees, excluding public administration

Source: Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023

Scope: Canada business-wide survey context among enterprises with 10 or more employees, excluding public administration. Incident indicators capture incidents businesses considered impactful and may not represent total cyber-attack prevalence.

Methodology: Data were collected from January to March 2024 for activities occurring in 2023. The target population included enterprises with Canadian operations and 10 or more employees across most economic sectors, excluding public administration. Incident indicators capture incidents businesses considered impactful and may not represent the total number of cyber attacks in Canada.

Accessible data table

Verified Canada business-wide cyber context data from Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023, reporting period 2023.
Metric	Value	Source	Scope	Reporting period
Canadian businesses	16% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Scams and fraud	50% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Identity theft	31% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Ransomware	13% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Risk identification activities	59% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Written policies	26% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Cyber risk insurance	22% percent	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Large businesses	500 CAD million	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Medium businesses	300 CAD million	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Small businesses	300 CAD million	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023
Total spending on recovery from cyber security incidents across all Canadian businesses in 2023, in CAD billions.	1.2 CAD billion	Statistics Canada, Canadian Survey of Cyber Security and Cybercrime, 2023	Canadian businesses with 10 or more employees, excluding public administration	2023

Relevant loss and exposure areas

These existing industry scoping prompts help frame a proposal. They do not assert an incident, loss, or market-specific condition.

Industry themes

Fraud
Data Theft
Regulatory Non-Compliance

Digital surfaces in scope

Banking AppsWealth PortalsTrading APIs

What structured security support changes

The Security File turns risk signals into decisions.

Official market data shows where risk exists. The BilgeQor Security File connects that context to your real websites, apps, accounts, payment flows and team responsibilities, so leaders can decide what to fix first.

Why this matters

The file gives your team one place to understand what was reviewed, what matters, what changed, and what still needs a decision.

BilgeQor Method

What the Security File contains

A Security File is not a generic report. It is a structured decision record for the assets, workflows and risks covered by the agreed scope.

Market and sector context

We connect official market signals and industry exposure to the business surfaces in scope.

Exposure map

We map websites, apps, accounts, payment journeys, admin roles, vendors and customer-facing workflows.

Priority register

We separate urgent risks, important improvements and lower-priority findings so the next action is clear.

Executive summary

We provide a concise summary that leadership, operations, vendors or insurers can read without needing raw technical detail.

Remediation roadmap

We turn findings into a 14 / 30 / 90-day action path with ownership, evidence notes and follow-through guidance.

What it is not

Not a guarantee of perfect security.
Not a certification or compliance verdict.
Not a per-company loss estimate or fear-based claim.

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