The Globe and Mail reports in its Tuesday edition that last year Canadian companies spent $1.2-billion recovering from cyberattacks, double the amount they spent two years prior, according to recent data from Statistics Canada. The Globe's Alexandra Posadzki writes that the significant rise in recovery spending occurred despite a slight decrease in the percentage of businesses experiencing cyberattacks, which fell to about 16 per cent in 2023, down from 18 per cent in 2021 and 21 per cent in 2019. Statistics Canada reported that the financial impact of cybercriminal breaches is increasing. These costs can include hiring new staff, training employees, managing public relations and investing in new hardware or software. The new figures underline the increasingly costly battle organizations face against cybercriminals who are becoming more and more sophisticated. Despite the significant investments organizations have made to strengthen their defences, spending on the prevention and detection of cyberattacks increased to $11-billion in 2023, up from $9.7-billion in 2021. Several high-profile organizations were targeted last year. Those organizations include Indigo Books & Music, Barrick Gold and Sun Life Financial.