Alberta Canola reports spear-phishing attack during AGM

The Alberta Canola Conference kicked off yesterday in Lethbridge.

Producers taking part in the group's AGM heard the details of a spear-phishing attack that occurred in August.

Alberta Canola has implemented new ongoing cyber security training for staff and directors following a spear-phishing attack in August.

Director Ian Chitwood says payment for one invoice was diverted to a fraudulent account, the attack was discovered when the perpetrators tried a second attempt.

"Our bank was notified. A portion of the stolen funds were recovered from the fraud department, and a police report was filed."

He notes that Grant Thornton's Risk and Forensic Services reviewed the organizations' internal controls and improvements were made.

Alberta Canola has also applied for cyber insurance.