The Financial Post reports in its Monday edition that little has been done to reduce the financial burden of cybercrime in Canada, suggests a new IBM survey of 26 victimized organizations. A Canadian Press dispatch to the Post reports that the average cost to companies of a cybersecurity breach in Canada as of 2023 is $6.94-million -- down from last year's $7.05-million but still the second-highest annual price tag in the study's nine-year history. As well, in addition to the technical, legal and public relations costs incurred by companies after an incident, the IBM report shows organizations that fall prey to a cyberattack are spending a significant amount of time mopping up the damage. IBM says it takes companies an average of 215 days to identify and contain a data breach. That means many corporations spend a good part of a year dealing with the fallout after a successful cyberattack. IBM's Chris Sicard says: "The reality is the cleanup process has a very long tail. Once you are dealing with an attack, and you are working to contain that breach -- even though it's not in the news cycle anymore -- there is an awful lot of investment and work that is required to make sure it never happens again."