Privacy and data security have a value and a price . After all, they can mean the salvation or doom of small and medium-sized companies when it comes to data leaks and other security incidents.
What determines the position in corporate heaven or hell is whether or not they invest to minimize risks and vulnerabilities. After all, prevention and protection against data leaks in the company are essential and priceless.
The difference between success and failure may be just a click away. Without a doubt, investing in technology and simple, efficient and affordable data security and privacy solutions in the company is the best decision .
On the contrary, indecision leads to inertia and nowhere. In any case, delaying the necessary attention against security incidents and not adopting security and data protection compliance policies and processes has only two explanations: misinformation or negligence .
The consequences can lead to the end of any small and medium-sized company. Too high a price, for sure.
What's next?
The increase in cyber risks and threats, from 2022 onwards, is a consensus among cybersecurity experts. This confirms the information and warning we brought in the previous article about data leaks. The worst is yet to come.
The largest number of digital privacy violations in Brazilian history that occurred in 2021, signals that we will see an increase in the number of virtual threats and the greater risk of data leaks in companies from 2022 onwards .
That's why we focus so much on the relevance of information , prevention and investment in security solutions, technologies and systems . Since the lack of these conditions is what makes data leaks in companies one of the most frequent security incidents .
The purpose is to share information so that business owners, IT professionals and managers know that, despite being serious, preventing data leaks is possible .
Above all, because knowing more about risks and threats, adopting good practices and investing in technological solutions and tools can still generate other advantages and benefits , such as:
- compliance with the LGPD ( General Personal Data Protection Law ) and the rules of the National Data Protection Authority (ANPD);
- more security;
- cost reduction; It is
- increased productivity and profitability.
What are the news and trends regarding data leaks in companies?
Even though more areas and aspects of IT are in the sights of companies of all sizes, one of the common priorities for all companies is data security .
In this sense, today, we will bring data and insights into the future of information security in companies in combating data leaks and other types of security incidents.
In order to better fulfill this purpose, we summarize or reproduce excerpts and researched information . At the end of each block, we will share a link to access the full content.
Let's start with two articles from Forbes Brasil and an e-book from Incognia . In these materials, we can see how expensive issues such as security and privacy, literally, are .
Just to illustrate, the information reinforces and confirms the need for attention to security in passwords and in the identification and digital authentication of users . Topics we covered in a recent article about data leaks in companies.
Biometric digital identity to replace passwords
IDTech unico became worth more than R$12 billion, after “tokenizing” the digital identity. With more than 9 million transactions already carried out, the biometric token aims to make financial transactions more secure.
Certainly, a welcome and necessary technology, since the number of PIX user data leaks has been very constant.
The biometric token reduced the chances of a consumer giving up on a process before reaching its end by four times.
Here, the real value for companies: increasing the number of sales. The trend is that the increase in the number of people with digital identification in Brazil could increase Brazilian GDP by 3% by 2030, according to a study by McKinsey Digital.
Also, another strong trend is that several governments are moving towards digital identity. The countries that made the change argue that the model offers a better experience for citizens, companies and public entities.
According to the World Bank, there are around 1 billion people in the world who do not have any form of identification. In Latin America, only 33.8 million are digitally identified. The total average loss due to data leaks in 2020 reached US$3.86 million. Furthermore, Brazil is the second country in the world with the most identity fraud and 6.3% of transactions carried out in the country come from Identity Spoofing (when someone assumes another person's identity to commit fraud).
Increasingly difficult cyber risk management
Fraud prevention methods that will be least effective are:
- those based on static information;
- identity verification during onboarding;
- address validation with proof of residence document;
- the strength of the link between variables reported by customers (CPF, email, telephone, zip code);
- identity verification by call center agents;
- facial recognition without liveness detection (through photo);
- one-time passwords via SMS;
- passwords in general; It is
- Knowledge Questions – Knowledge-based authentication (KBA).
After the 2021 data breaches, all of these prevention methods were highly compromised.
Above all, because fraudsters have a number of personal information and data that, combined with social engineering practices, current identity authentication methods more vulnerable and often insufficient
The focus is on the evolution of technology to make identity authentication processes for users, employees and customers safer.
A process that had already been occurring, but was accelerated by the recurrence of data leaks in companies and government bodies and institutions , especially those in 2021.
Companies are prioritizing ease of use and security. In other words, new fraud prevention methods must offer and prove high levels of complexity and difficulty in being circumvented.
Data leak immunity
Just to illustrate, one of these new methods is location-based behavioral biometrics . According to Incognia, this technology is immune to data leaks .
By utilizing the strength of the mobile device's location signals and motion sensors , it builds a location fingerprint for each user based on their location behavior, which is unique.
This information is encrypted, hashed (summarized). Thus, they allow real-time verification and authentication of trusted users and fraudster detection .
As a result, it makes it possible to increase revenue through a more effective approval process for legitimate customers. Additionally, it reduces costs associated with fraud and manual reviews.
Again, the real value of technology for companies: increasing the number of sales and reducing costs.
According to reports, with its technology, the opening of new retail bank accounts automatic approval by 52% . In a fintech app, it achieved 99.9983% assertiveness in the login approval process.
The end of static data improves information security
When a static data leak occurs, there is nothing left to do. Because, they are widely used by fraudsters, since prevention methods that use static data have lower effectiveness and protection.
That's why unprecedented leaks, like those recorded in Brazil in 2021, will radically change the way companies and governments treat security and fraud prevention tools .
Static data is more fragile , since, in the possession of fraudsters, it cannot be altered and, at the same time, there is no way to ensure the legitimacy of whoever is providing such information.
Dynamic data is more reliable , as it is more difficult to copy and tamper with. When they are based on behavior, they are constantly updated, according to the users' location profile and activities.
Privacy by Design goes hand in hand with the LGPD
The evolution of topics related to privacy and digital security puts into perspective the advances with the General Data Protection Law (LGPD) and the acceleration of regulatory activity in Brazil , through the National Data Protection Authority (ANPD) .
In a recent interview with Forbes Brasil, Adriana Aroulho, CEO of SAP Brasil, highlighted that the corporate agenda, in 2022, has data security as one of the priority items .
“Certainly, the way companies deal with data has changed and is the order of the day” , highlighted the executive.
Companies are incorporating new practices, processes and management concepts that include privacy and security as a priority , adds Yasodara Córdova, Principal Privacy Researcher at unico.
“Large companies are already researching and developing technologies to provide greater privacy for users. Furthermore, a silent revolution is taking place coming from startups, the privacy techs – which develop cutting-edge privacy solutions and offer them to large companies” , he explains.
But, what is Privacy by Design?
According to Yasodara, Privacy by Design is a concept that “integrates privacy considerations from the beginning of the development of products, services, projects, processes, practices, technologies and infrastructures. The objective is to guarantee privacy and allow individuals to have control over their personal data , which consequently gives a competitive advantage to organizations that adopt the methodology”.
The concept has already given rise to a new technology industry, PrivacyTech. A niche market that is expected to grow by more than 40% by 2028.
The impact of LGPD on data culture
When the topic is the General Data Protection Law (LGPD) , companies are still adapting and mapping privacy gaps. Privacy and Security are now part of any business, beyond legal obligation. Anyone who does not seek knowledge and innovation in this area will gradually be replaced.
The LGPD has brought greater legal certainty over the processing of data , as it provides mechanisms for the holder to have greater control over what data is collected and how it is used.
The law leveled the playing field so everyone had a starting point in privacy. The challenge is to go beyond regulation and offer privacy as a competitive differentiator.
Cryptography is the future of privacy and the great foundation for going beyond LGDP in companies.
Trends and main challenges in cybersecurity
Companies that remain protected are certainly aware of news, trends, new threats and tools for managing and controlling internet access and the most advanced data security .
The main challenges and trends in cybersecurity are:
- expansion of the threat landscape;
- shortage of cybersecurity skills and experts;
- regulatory compliance;
- increase in social engineering attacks;
- focus on cloud vulnerabilities;
- increased adoption of the Zero-Trust Network; It is
- update on 5G and IoT security.
Cyberattacks have affected companies' reputation and revenue. Therefore, it is important to promote a safety culture and incorporate it into each process .
Business owners, IT professionals and managers must be aware of cybersecurity trends and work to maintain security in their companies.
10 cyber security and risk trends
In addition to the already known cyber threats, new cyber risks and security challenges will be present in 2022. Here are some of the main trends.
1. Ransomware attacks
Ransomware has disrupted the data breach threat landscape in 2021. Not only the targeted nature of the attacks, but also the increasing sophistication of threat actors, has resulted in major losses for insurers and organizations around the world.
2. Acceleration of security incident regulatory activity
Internationally, 2021 saw China's Personal Information Protection Law come into force, penalties in Brazil's General Personal Data Protection Law become applicable, and the EU's final implementing decision on standard contractual clauses.
The size and scope of regulatory activity will likely continue to increase. Starting in 2022, we will see the introduction of new regulations, as well as amendments, supporting regulations, adjustments and notices related to many of these recently enacted laws.
3. Cloud Service Challenges
As more companies and processes migrate to cloud-based solutions, cybercriminals will look for ways to exploit and infiltrate.
However, moving to a cloud-based solution does not mean that companies no longer have to deal with security.
It's an inappropriate thought. While a cloud provider offers some security, it is still up to companies to take additional security measures.
4. Rising operational technology threats
With the acceleration of digital transformation came the convergence of operational technology (OT) and information technology (IT). Now computer hardware and software are used to manage equipment and operating systems .
Vulnerabilities in OT environments cannot be overlooked or ignored. After all, strategic infrastructure sectors depend heavily on OT (energy, industry, manufacturing, logistics, oil and gas, telecommunications and utility management).
5. Supply chain at risk
Targeted attacks against multiple supply chains create major turbulence. Despite hitting a large organization, they result in substantial destruction because many others depend on the target organization.
Cybercriminals will continue to deploy this strategy, which has already proven to be very profitable – supply chain disruptions will continue throughout 2022.
6. Cybersecurity Talent Lack
Recruiting and retaining the best cybersecurity professionals to face the challenges presented by the current cyber threat landscape will certainly be a significant business challenge from 2022 onwards.
As of 2021, there are around 4.19 million cybersecurity professionals across the world . An increase of more than 700 thousand compared to 2020, according to the 2021 Cybersecurity Workforce Study from the International Information System Security Certification Consortium.
Despite this rapid growth in the cybersecurity workforce, the study also notes that “global demand for cybersecurity professionals continues to outpace supply” .
Furthermore, cybersecurity is no longer an information technology or information security risk – it is a corporate governance risk.
7. Reliance on machine learning and artificial intelligence
At the same time that many companies have begun to adopt the use of automated solutions, others are investing in artificial intelligence and machine learning to support operational and business functions. Some of this appears to be driven by the Covid-19 pandemic .
While automation and machine learning have been around for a while, they are relatively new technologies. Therefore, problems with coding, incorrect configuration, insufficient testing and conflicts with other systems and platforms may arise.
As more companies move towards automated solutions, cybersecurity risks must be managed properly and effectively.
8. Cybersecurity improves awareness and culture against data leaks
It is difficult to financially quantify the damage caused by cybercriminals in recent years. But the negative impact these attacks have had on individuals, companies and public entities is immense.
On the other hand, a positive impact of the current cyber risk environment is a greater awareness of the need for attention, risk management strategies and business resilience.
In a 2021 survey, Gartner found that 88% of corporate boards now view cybersecurity as a business risk .
9. More collaboration to prevent data leakage
The digital and digitized world has historically been considered an IT problem. But a recent report published by the JP Morgan International Council noted that “cyber is the world’s most dangerous weapon – politically, economically and militarily.”
Therefore, combating and mitigating risks and data leaks can only be carried out with shared responsibility between companies, employees and customers.
10. Security incident insurance market
Policyholders and potential insurance buyers can expect the cyber insurance market to remain tense in 2022.
Because the high frequency and substantial severity of claims such as data breaches, coupled with increased legislative and regulatory enforcement activity, have caused cyber insurance markets to require certain minimum controls for insurance qualification, coverage limits, and capacity reductions. and limits.
As insurers' understanding of the causes of losses deepens, underwriting requirements will evolve. However, the requirement for strong controls will not change , even if we could see prices start to decline in late 2022 or sometime in 2023.
The price and value of security incident solutions and technologies
The way each company handles sensitive, confidential or personal information under its responsibility and protects it against data leakage is a differentiator that makes it preferable (or not) for customers and users .
Digitally secure companies are more productive and profitable . Without a doubt, they grow more and stand out from the competition. Indeed, an invaluable value in an increasingly competitive scenario .
Vulnerable and unprotected companies , where there are no policies and processes to prevent or deal with data leaks, undoubtedly run great risks and become preferred targets for cybercrimes .
Exactly for this reason, it is curious to realize that businesspeople, IT professionals and managers still leave their companies at risk . True incubators for all types of security incidents. After all, we have already seen that, most of the time, data leaks are unintentional, but have the human factor as a key element .
Certainly, after this initial explanation, it becomes easier to understand the price of misinformation and unpreparedness and the value of preventing and protecting against data leaks .
The main benefits of data leak prevention
Information and prevention are keywords against data leakage . To avoid losses and protect their reputation, companies need to be prepared.
A process that does not need to be difficult or complex. Since the market offers simple, useful and affordable solutions.
Without a doubt, preventing security incidents is more efficient when the management and control of internet access is combined with information security and compliance processes against data leaks .
In practice, in addition to prevention , the best solutions on the market productivity and profitability indicators . Just search and compare.
Lumiun Box is excellent for preventing data leakage. Click here and find out how it can help your company. Certainly, it is the solution that offers the most effective differences and facilities against data leaks.
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