IBM Report: Canada's Data Breach Costs Hit Record High as Attacks Target Critical Infrastructure

Energy becomes Canada's most expensive cyber target, while AI cuts breach costs by millions

MARKHAM, ON, July 29, 2026 /CNW/ -- Canadian organizations are paying a record CA$7.11 million on average for a data breach, according to the 2026 IBM Cost of a Data Breach Report– the highest level recorded since the study began. The findings point to a shifting cyber risk landscape in Canada, where larger breaches, longer containment times, and growing threats to critical infrastructure are driving costs higher. Organizations are also contending with larger and longer-lasting breaches, as the average number of compromised records rose 8% year over year to 28,500, while the average breach lifecycle increased 6% to 205 days. Despite these challenges, organizations using AI and security automation extensively experienced significantly lower breach costs and faster response times.