As highlighted in a study released by the Harvard Business Review in May this year, when a cyberattack succeeds against a publicly traded company and this information becomes public, the impacts are immediate: the company’s stock value experiences a sharp decline, resulting in an average decline of 7.5%, and the average loss of market capitalization reaches $5.4 billion.
This news served as the starting point for the conversation. Paulo Quites, COO of act digital, comments: besides the issue of data leaks, for companies, there is also an impact on operational processes, revenue generation, and operations that remain halted and stopped for extended periods — hence the importance of creating a secure mindset among employees and management.
Paulo Azevedo, our Head of Architecture & Cybersecurity, further emphasized that the biggest challenge is creating a Security by Design culture: currently, this concept no longer involves older techniques where security was considered pre-launch of the software. Today, we have technologies to detect this during development, making supply chain management easier and identifying potential vulnerabilities. On this topic, it’s worth reading the content ‘DevSecOps: How to integrate security into the software development lifecycle’ from our partner, Alter Solutions.
In 2022, Brazil was the second most targeted country in Latin America, with over 103 billion cyberattack attempts, a 16% increase from 2021, second only to Mexico, which experienced 187 billion attempts (FortiGuard Labs). In light of this scenario, Andrés Velazquez — Cybercrime Investigator — shared that Mexico and Brazil are the Latin American countries with the highest number of connected devices. We are the most advanced countries in the banking system, attracting attackers’ attention. Additionally, these countries have a high rate of piracy and reused codes, making the environment vulnerable to cyberattacks.
To protect ourselves from threats, investment in information security culture and tools is necessary. Moreover, crucially, there’s the aspect of regulation. “The sector that currently has the most maturity in cybersecurity is the financial sector because it has legal requirements that don’t allow mistakes or inducement: compliance with the rules is the only option.” Paulo Quites concluded by mentioning that the General Data Protection Regulation in Europe caused trauma for people to share data, which — at some point for solution providers — hindered the scaling of their products’ experiences.
Here at act digital, we enhance corporate cybersecurity to ensure system and information integrity with tools such as Cybersecurity Management, Information Security Governance (COBIT, Business Continuity, LGPD, Data Privacy, SOC), Architecture and Solutions Integration, Audit and Pentest, and Cyber Defense.
Take the opportunity to visit our page about the topic and the successful cases where act digital has been involved. Also, check out the full conversation:
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