Quiz and tips: How cyber safe are you?

By: Niyati Budhiraja

Social and Community Engagement Specialist

March 12, 2026

Calculating time...

Small and medium‑sized businesses in Canada face growing cyber risks, and many owners aren’t sure how prepared they actually are.

According to the Canadian Anti-Fraud Centre, over 112,000 fraud reports involving more than $704 million in losses were reported in 2025.Fraud remains severely underreported—only 5–10 per cent of incidents are believed to reach police or the CAFC. Ransomware remains the top cybercrime threat to critical infrastructure, the Canadian Centre for Cyber Security warns, with tactics growing bolder and more disruptive. Cybercriminals target businesses that process payments, store customer data, or rely on online systems. A single attack can lead to financial loss and reputational damage.

Take this quiz to see how prepared you are.

1. Do you train your employees on fraud and phishing?
A. Yes, we run regular training sessions
B. Sometimes, but not consistently
C. No, we have not done this

2. Do you use multi-factor authentication for all accounts?
A. Yes, for all critical systems
B. For some accounts
C. Not at all

3. How often do you update your software and payment systems?
A. Automatically and regularly
B. Occasionally
C. Rarely or never

4. Do you monitor transactions for unusual activity?
A. Daily
B. Weekly
C. Only when something looks wrong

5. Do you back up your business data?
A. Yes, regularly and securely
B. Sometimes
C. No

6. Do you restrict employee access to sensitive data?
A. Yes, based on role and need
B. Somewhat, but not fully
C. No, everyone has broad access

7. Do you have a response plan for cyber incidents?
A. Yes, documented and tested
B. We have an informal plan
C. No plan in place

8. Do you use encryption for customer and payment data?
A. Yes, for all sensitive data
B. For some data
C. Not at all

9. Do you verify vendors and third-party partners for security compliance?
A. Yes, before and during the relationship
B. Occasionally
C. Never

10. Do you use secure Wi-Fi and restrict public network use?
A. Yes, with strong passwords and VPNs
B. Sometimes
C. No, we use open networks

Your score
Mostly A: You are on the right track. Keep reviewing your security measures.
Mostly B: You have some protections, but gaps remain. Strengthen your processes now.
Mostly C: Your business is at high risk. Start with basic steps today.

Is your business cyber safe

How SMBs can strengthen cyber safety and reduce fraud risk

1. Train your team

Human error is one of the top causes of data breaches. Teach employees how to spot phishing emails, suspicious links, and fake invoices. Make security training part of onboarding and refresh it regularly.

2. Use strong passwords and multi-factor authentication

Weak passwords make it easy for attackers to access your systems. Require complex passwords and change them often. Add multi-factor authentication tools like authenticator apps, hardware keys, or SMS codes to add layers of protection to payment systems and cloud accounts.

3. Keep software updated

Outdated software is a common entry point for hackers. Enable automatic updates for operating systems, payment systems, and security tools. Regular updates close known vulnerabilities.

4. Monitor transactions and accounts

Set up alerts for unusual activity in your payment systems and bank accounts. Review transactions daily. Quick detection helps prevent large losses.

5. Back up your data

Ransomware attacks can lock you out of your own systems. Regular backups ensure you can restore critical data without paying criminals. Store backups in a secure, separate location.

Key takeaways for SMB cyber safety

Fraud is increasingly targeting Canadian SMBs.

Most businesses have gaps that can be addressed quickly.

Simple protections like MFA, training, and backups dramatically reduce risk.

Working with a trusted payment partner strengthens long‑term resilience.

Fraud-proof your business

Cybersecurity is not a one-time task. It is an ongoing commitment to protect your business, your customers, and your reputation. Every step you take to reduce risk makes a difference. Start with the basics, close the gaps, work with a trusted partner that prioritizes fraud prevention and data security and review your practices often. Fraud prevention is part of running a secure and trusted business.

_____________________________________________________________________________

Sources:

https://rcmp.ca/en/gazette/cost-fraud-exceeds-financial-loss-victims-say

https://www.cfib-fcei.ca/en/media/fraud-alert-half-of-canadian-business-owners-have-experienced-fraud-in-the-past-year

https://www.canada.ca/en/communications-security/news/2024/10/canadian-centre-for-cyber-security-releases-national-cyber-threat-assessment-2025-2026.html

https://antifraudcentre-centreantifraude.ca/features-vedette/2026/02/month-prevention-mois-eng.htm

Author Profile

Niyati Budhiraja

Social and Community Engagement Specialist

Niyati Budhiraja is a word nerd who turns tricky business talk into fun, simple and genuinely helpful content. She writes features on inspiring Canadian businesses, crafts easy-to-follow guides and shares smart tips to help small businesses feel confident and supported. When she’s not writing or dreaming up her next blog idea, you’ll likely find her hunting down the city’s best hot chocolate.