• The Business Cost of Cybercrime (2021)

    The Business Cost of Cybercrime (2021)


    In an increasingly interconnected and digitized world, data breaches have become ever more common. The wealth of personal information that corporations have in their possession means that such breaches can occur in even the most benign circumstances. 

    Although many corporations have developed sophisticated privacy and cybersecurity protocols to minimize these risks, data breaches have become a prominent feature in the 21st century and particularly in the COVID-19 world.


    We can define cybercrime as any activity where the internet and digital technologies, such as computers or mobile devices, are key to committing a crime. 

    There are two different categories of cybercrime: technology-as-target where the crime is committed using computers, networks, and digital devices. This involves the unauthorized use of computers and data. The other category, technology-as-instrument, is where the internet and information technologies play an instrumental role in crime.


    That the Government of Alberta:
    1. Provide funding and/or incentives to enhance cyber security education, training and implementation for businesses;
    2. Provide funding for an education campaign geared towards raising awareness, building the profile, and disseminating best practices in cybersecurity with the Canadian Anti- Fraud Centre or the Electronic Crime Committee;
    3. Include businesses and other stakeholders in the newly formed Electronic Crime Committee to assist with communications and outreach strategies; and
    4. Provide appropriate training and development opportunities to SMEs so these businesses are educated regarding threats and empowered to assess their own vulnerabilities.