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[Retrospectiva] Cybersecurity in 2022: A year of great challenges and opportunities for companies

The year 2022 was quite challenging for companies in Brazil when it comes to Cybersecurity, where the unceasing destructive power of cyber attacks was shown.

With the consolidation of the digital environment as a business environment, cyber attacks have become constant and a big problem for many Brazilian companies. This has led to CEOs, CIOs, and CISO’s needing to understand the challenges and consider assertive solutions to address them.

On our blog, for example, we show in the article “
CiSOs: key areas to protect your company against cyber attacks
“, we showed besides the importance of the role of the Chief information security officer in the organization, we listed key areas that need to be prioritized by companies.

It was quite challenging, but it also brought opportunities for companies to use technology as a means of ensuring security and data protection.

In 2022, companies must be prepared for the new challenges that cybersecurity will bring.

In addition, it is important to explore the advantages of digital certification, which can be an advanced solution in security and data protection.

Why has investing in Cybersecurity become vital in 2022?

Investing in cybersecurity and protection has become strategic to every company’s business, and 2022 was no different. Cybercriminals have evolved rapidly in recent years, making attacks more sophisticated than ever.

The company becomes vulnerable to loss of confidential data, identity theft, or shutdown of operations by a successful malicious attack if it does not adequately protect itself.

It is worth remembering

In practice, we have seen in the course of the year critical incidents for different types of companies. Some stations were invaded, interrupting their daily programs. Google has also been notified of serious security flaws in its Chrome browser that could result in sensitive data being leaked.

In addition, just like Porto Seguro in 2021, Golden Cross also suffered an attack and had to stop its activities to adjust critical flaws in its technology architecture.

It is also worth remembering that the Banco de Brasília (BRB) was a victim of ransomware, where cybercriminals demanded about 50 bitcoins (R$5.17 million) as ransom for the data not to be leaked.

In the article “It may be too late. 79% of companies only invest in cybersecurity after a data breach“, we address how much companies are at risk today and what the best course of action is to avoid a data breach.

For this reason, it is vital that the structure of your business is equipped with the necessary resources to prevent breaches and maintain data security at all times.

A significant way to improve your organization’s security and data protection, adopted by many companies in 2022, is to implement the use of the digital certificate in business processes.

The digital certificate is an authentication mechanism used in many countries that secures the identity of any user and guarantees their privacy. It helps companies protect confidential information from threats and is a secure way to exchange data between partners, customers, and suppliers.

The importance of adopting the digital certificate and the electronic signature

We showed the importance of adopting the digital certificate and electronic signature in the article “
Why your company should consider using electronic signatures in the sales sector
“showing that different market sectors can benefit from the technology.

In addition, adopting other advanced security tools was also a feature that companies adopted this year and should remain a priority in 2023.

Including security features such as firewall, antivirus, and anti-malware systems has proven to be a strategic investment for companies. These tools are designed to detect potential threats before they can do real damage to the company’s operations.

And speaking of security investments, we published the article “
ROI in cybersecurity: How do you quantify the value of something that doesn’t occur?
“, showing the challenge of quantifying the value of something that is practically intangible.

Besides being a very interesting topic, we show in the course of the publication how to calculate the ROI in cybersecurity. This article is well worth a look.

In addition to cybersecurity challenges, companies also had great opportunities for improvement

We reached the end of 2022 not only with the growth of cybercrime and its challenges, we also had many new developments in terms of technological innovation.

We had, for example, the launch of 5G technology, the new generation of mobile wireless technology. It promises more speed with higher data capacity and lower latency, and the ability to connect many devices at the same time. We deal with this subject in the article “
How to extend user security and privacy using authentication in 5G networks

In addition, we have seen over the course of the year the growth in the importance of ESG for companies and its relationship to technology, cybersecurity, and sustainability. It is worth taking a look at what we published in the article “
ESG: 5 different views on sustainability

In fact, this year, after a long period of pandering, we have seen that companies not only need to be ready for digital transformation. They need to be prepared for drastic changes in the business model.

This is what we saw in the article “
How digital agriculture associated with electronic signature is changing Brazilian agricultural production

Much more than preparing for population growth, sectors of the economy, such as agriculture, have seen the need to adapt. This has caused them to seek a new approach that uses technology to improve efficiency and sustainability.

The automation of contracts and chargeback prevention have also shown themselves to be present in this new reality for companies. The digital medium has become the main avenue for new business, hence the importance of pursuing innovation in business processes.

Be sure to take a look at the articles “
Contract automation: security guarantee for your business
” e “
Don’t be the next company to be a victim of Chargeback
“where we deal with these topics.

The year 2022 was also transformational for EVAL

In this retrospective we could not fail to remember what happened to EVAL during the year. A lot has happened, including the remodeling of our brand and the launch of new products and services.

Important milestones have been reached by the “new EVAL”. We consolidated our participation in the Mind The Sec 2022 event in partnership with Thales.

You can even watch our lecture in the article “Mind The Sec: Eval participates in Latin America’s biggest cybersecurity event“where Abilio Branco, Head of Data Protection at Thales – Brazil, showed how to ensure the protection of sensitive data and accelerate compliance in the era of digital transformation.

Let’s not forget that this year EVAL became a member of the PCI Security Standards Council. This means that we now work with PCI SSC to help protect payment data worldwide through the development and adoption of the PCI Security Standards.

This important milestone was portrayed in the article “
EVAL TECHNOLOGY was approved as a member of the PCI Security Standards Council
“. It is well worth taking a look at what this approval represents, not only for EVAL as a company, but for Brazilian companies dealing with payment methods.

A lot has happened in the course of this year regarding cybersecurity, but 2023 promises even more

There is a lot of progress being made in the field of cybersecurity in recent years and EVAL has done its part in this evolutionary process. This means that there is a lot of anticipation for 2023 when the time comes for these emerging technologies to reach Brazilian companies.

To stay competitive in this highly dynamic field, organizations need to invest in proper training for employees involved in cybersecurity-related processes. In addition, it is necessary to implement preventive measures with a focus on the emerging trends presented in this article.

By doing so, companies can be sure that they are prepared to deal with any digital security threat potentially damaging to their reputation or net income in the near future.

About EVAL

EVAL has been developing projects in the financial, health, education and industry segments for over 18 years. Since 2004, we have offered Authentication, Electronic and Digital Signature and Data Protection solutions. Currently, we are present in the main Brazilian banks, health institutions, schools and universities, and different industries.

With value recognized by the market, EVAL’s solutions and services meet the highest regulatory standards of public and private organizations, such as SBIS, ITI, PCI DSS, and LGPD. In practice, we promote information security and compliance, increase companies’ operational efficiency, and reduce costs.

Innovate now, lead always: get to know Eval’s solutions and services and take your company to the next level.

Eval safety is value.

Data Protection

How does a lack of investment in security affect a company?

A lack of investment in cybersecurity and a data breach can have three major consequences: financial, reputational and legal.

In fact, cyber security is no longer just a matter of technology, but an essential aspect of business.

Gone are the days when companies could hand over data protection responsibilities to the IT department alone. After all, it has become strategic and affects all sectors.

The impact of lack of investment in security

Lack of investment in security results in substantial financial losses:

  • Theft of corporate information;
  • Theft of financial information (e.g. bank details or card details);
  • Theft of money;
  • Business interruptions (e.g. inability to carry out online transactions);
  • Loss of business or contracts;

Companies that suffer cyber breaches usually also have costs associated with repairing systems, networks and devices.

This is especially important as companies are becoming increasingly digital, which means they will be exposed to a greater number of threats if they don’t manage security risk properly and make the necessary investment.

Reputational damage is greater than financial damage

Many companies have not yet realized or measured the real impact of the loss of credibility. Trust is undoubtedly an essential element in customer relations.

After all, cyber attacks and data theft can damage your organization’s reputation and completely break down the trust that consumers have in you.

This, in turn, can lead to consequences such as:

  • Loss of customers;
  • Loss of sales;
  • Significant reduction in profits;
  • Bankruptcy.

The effect of reputational damage due to a lack of investment in security can impact even your suppliers, as well as the relationships you have with partners, investors and third parties involved in your business.

Understanding the importance of changing the mindset when it comes to investing in cybersecurity has become vital. In the midst of the digital transformation era, companies cannot risk suffering an attack or not knowing how to handle an incident.

Legal consequences of a lack of investment in security

We mustn’t forget that failing to invest in security also results in legal problems. After all, the General Data Protection Act (LGPD) requires your company to manage all the personal information it holds, whether it’s about your staff or your customers.

If this data is accidentally or deliberately compromised, and you fail to implement the appropriate security measures, you could face fines and regulatory sanctions that could make your business unviable.

Recent global breaches have impacted more than 200,000 computers in 150 countries and cost millions; nothing could make the importance of investing in cyber security clearer, as it impacts companies as a whole, not just IT departments.


The risk of attacks is real and affects every company

It’s not enough to read this post, agree that we need to invest in security and do nothing. Because you have to be aware that the risk is real and will affect your company’s operations cycle at some point.

A simple risk analysis is enough to see what can happen to your organization, employees and, above all, customers:

  • Physical loss of data. You can lose immediate access for reasons ranging from flooding to power outages. This can also happen for simpler reasons, such as a disk failure;
  • Unauthorized access to data. Remember that if you have confidential client information, you are often contractually responsible for protecting it as if it were your own;
  • Interception of information in transit. The risks include data transmitted between company sites or between the organization and its employees, partners and contractors, at home or elsewhere;
  • Your data could fall into the hands of other people. Do you share this information with third parties, including contractors, partners and other important data? What protects them while they are in your hands or those of your partners?
  • Data corruption, intentional or not. This can modify them to favor an external party or because of a software error.

Every company needs to have a security investment program

A lack of cyber security needs to be seen as a business risk and not just a technology problem. It is therefore necessary to follow guidelines that help the organization achieve adequate levels of protection.

So no matter what size your company is, it needs to have an investment plan to guarantee the security of its information assets.

This plan is responsible for all the policies and processes for creating a cyber security program, as well as making you think holistically about your organization’s data protection.

In short, a program provides the framework for keeping your company at an adequate level of security, assessing the risks you face, deciding what to prioritize and planning how to have up-to-date practices.

Investing in security means protecting its confidentiality, integrity and availability

Having a security investment program means that you have taken steps to reduce the risk of losing data in various ways and have defined a lifecycle for managing the information and technology in your organization.

Fortunately, cybersecurity technologies are available to companies of different sizes and segments, so they adapt to their business realities and help them meet the challenges of data protection.

How to minimize the impact of cyber attacks on companies

As we have seen, security breaches can devastate even the most resilient companies.

It is extremely important to manage the risks according to the nature of the business before and after an attack takes place, make the necessary investments and create an effective cyber incident protection and response plan. Since it can help your company:

  • Prevent and reduce the impact of cyber attacks;
  • Report incidents to the responsible authorities;
  • Recover the affected systems;
  • Getting your business up and running in the shortest possible time.

In this way, we can see that making an investment in security means training, educating and raising awareness among your organization’s users on an ongoing basis and, of course, acquiring technologies and services, always seeking to guarantee the protection of customer data and business continuity, enabling the company’s continued growth.

Do you have any questions about this? Our experts will be happy to answer your questions and contribute to your information security projects.

About Eval

EVAL has been developing projects in the financial, health, education and industry segments for over 18 years. Since 2004, we have offered Authentication, Electronic and Digital Signature and Data Protection solutions. Currently, we are present in the main Brazilian banks, health institutions, schools and universities, and different industries.

With value recognized by the market, EVAL’s solutions and services meet the highest regulatory standards of public and private organizations, such as SBIS, ITI, PCI DSS, and LGPD. In practice, we promote information security and compliance, increase companies’ operational efficiency, and reduce costs.

Innovate now, lead always: get to know Eval’s solutions and services and take your company to the next level.

Eval, safety is value.