CANADIAN LAWYER – Planning for cyber-threats

Shannon Kari
Posted on: April 3, 2018

Daniel Tobok, chief executive of Cypfer Inc., a Toronto-based security company, says police in Canada currently have backlogs of as long as 18 months in dealing with cybercrime cases and it is not difficult for individuals to escape detection.

“You can buy all the tools you need for ransomware on the dark web for about $10,000. It is like a ‘do-it-yourself kit.’ It will even tell you how to launder the money [in a crypto-currency]. This is an easy crime compared to a bank robbery,” says Tobok. For businesses, the immediate priority should be self-interest. “This is not about discovering the identity of the perpetrator. It is about minimizing and containing the damage,” Tobok explains.