Brazil Firms in Race to Keep Up with Growing Cyberthreats

Many Brazilian enterprises are still struggling to quickly and effectively adopt the tools and solutions needed to counteract growing cyberthreats in all economic sectors, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2024 ISG Provider Lens Cybersecurity - Solutions and Services report for Brazil says Brazilian enterprises must reinforce their protection and resilience efforts against a backdrop of increasing cyberattacks. These companies must take the initiative to build a secure environment, not only by adopting technologies and best practices but also by developing a security mindset throughout the organization, but especially at the C-level, the ISG report says.

“Many Brazilian companies are finding it challenging to muster a sufficiently specialized team that can effectively counter security threats,” said Doug Saylors, partner, co-lead, ISG Cybersecurity. “As a result, the role of solution and service providers takes on even greater relevance and responsibility.”

One of the top threats facing Brazilian enterprises and individuals alike is “phishing,” the ISG report says. Phishing is an online fraud technique criminals use in electronic communication to trick individuals into revealing personal information, such as passwords and credit card details, by pretending to be a trustworthy entity. According to the report, there has been a significant increase in phishing attempts in Brazil, involving both corporate and personal emails. These attempts have grown steadily in sophistication, with increasingly well-worded messages aimed at gaining advantages, such as paying fake bills and providing personal data that enables criminals to carry out subsequent attacks, ISG says.

Recognizing and avoiding these attacks are crucial to protecting online security, the ISG report says. To counteract this threat, enterprises must take a multifaceted approach, adopting strategies and practices to protect themselves from both phishing attempts and from the use of data that has already been exposed, the report says. Solutions to such attacks include access controls, multi factor authentication (MFA), advanced e-mail filters and regular training, as well as careful segregation of work and personal use on mobile devices, ISG says.