This week’s “cybersecurity incident” that forced London Drugs to close all its stores across Western Canada is another harsh reminder of the vulnerabilities all companies face in the digital age.
For decades, information security mainly operated in the shadows of organizations, a misunderstood skillset often left to its own devices. Now, however, companies are more at risk to data breaches as business operations have increasingly shifted online, from customer and vendor transactions, sales tracking and compensation figures, to name a few.
The closing of more than 80 London Drugs stores since Sunday was reminiscent of cyberattacks in recent years that struck Capital One (NYSE:COF), Equifax’s (NYSE:EFX), Indigo (TSE:IDG), Norsk Hydro (OTCMKTS:NHYDY) and JPMorgan Chase (NYSE:JPM).
Back in November, in a Public Pulse feature you can watch in the video above, The Market Online’s Ryan Dhillon examined the impact security breaches had on the reputations and performance of those companies.
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