The report concerns a March 2022 attack on the Canadian tourist town of Banff, which apparently cost over $500,000.
“Municipalities can be favoured targets of cybersecurity attackers because their cyber defences aren’t as sophisticated as higher levels of government. Attackers believe cities and towns may be more willing to pay ransoms than other organizations because of the amount of personal information they hold.”
The town is moving to increase its cyber security budget, including with cyber insurance.
“Administration has asked for an additional $220,000, which includes $125,000 in wages and benefits for new IT personnel, $25,000 for a cybersecurity audit, $25,000 for cybersecurity insurance and $50,000 for additional hardware and software.”
Source: RMOToday.com