Phishing remains one of the most common and damaging cyber threats facing Canadian businesses today. These attacks often arrive via email, disguised as legitimate messages, and contain malicious links or attachments designed to steal sensitive information or install malware. Despite growing awareness, phishing continues to evolve, with attackers using increasingly sophisticated tactics to deceive employees and exploit organizational vulnerabilities.
Recent incidents across Canada highlight the real-world impact of phishing and related cyber threats. In 2025 alone, organizations such as the Ontario Public Service Employees Union (OPSEU), Visionary Holdings in Toronto, and the Brunswick Health Group in Québec were all affected by cyber incidents involving email-based attacks [1]. These breaches disrupted operations, exposed sensitive data, and in some cases, halted production entirely. The Ganong Bros. ransomware attack in New Brunswick, for example, was linked to a phishing email that led to a full-scale system compromise [1].
The financial and reputational costs of phishing are significant. According to Statistics Canada, Canadian businesses spent nearly double on cybersecurity recovery in 2023 compared to 2021, with phishing and fraud among the most common attack vectors [2]. The average cost of a data breach in Canada is estimated at \$5.4 million, and phishing emails are often the entry point for these breaches [3]. Even small and medium-sized businesses are not immune—many lack the resources to recover quickly, making prevention all the more critical.
To protect your organization, it is essential to implement regular employee training on how to spot phishing attempts, especially those with suspicious links or unexpected attachments. Encourage staff to verify sender identities, avoid clicking unknown links, and report suspicious messages immediately. Investing in email filtering tools and multi-factor authentication can also reduce your risk. In today’s digital landscape, cybersecurity is not just an IT issue—it is a business imperative.
Further reading references:
[1] The Latest Cyberattacks in Canada: What Every Business Needs to Know
[2] Impact of cybercrime on Canadian businesses, 2023
[3] Cyber Crime Statistics in Canada for 2024 | Made in CA
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