Brazil is among the most vulnerable countries when it comes to information security. This was the finding of a study sponsored by IBM and conducted by the Ponemon Institute on the financial impact of data breaches, " Cost of Data Breach Study 2016 ".
At the top of the list of 12 countries, Brazil is followed by South Africa, France, and India.
In just one year, the number of data theft incidents increased by 2,100% in Brazil, rising from 3,900 to 85,400 and generating an average loss of R$ 4.1 million for Brazilian companies.
Worldwide, more than 1,500 interviews were conducted in 383 organizations across 16 industries and 12 different countries. In Brazil, the study gathered information from 33 companies in 12 different industrial sectors.
In addition to the increase in data loss, the study showed that the average cost per data breach incident rose from R$116.00 in 2013 to R$175.00 the previous year, and has now reached R$225.00.
The report also pointed to the causes of the data breach incidents:
- Attempts at malicious or criminal attacks by third parties: 40%
- Negligence and lack of information management: 30%
- Human error: 30%
This scenario demonstrates the need for companies to pay greater attention to information security, moving beyond what is merely desirable to become a mandatory necessity for the survival of organizations.
Measures to reduce risks
Among the companies that experienced some type of data breach, the preventive measures taken were:
- Increased use of encrypted data – 47%
- Manual procedures and additional controls – 46%
- Team training and awareness – 43%
- Security and perimeter and navigation controls – 40%
Considering that information is a company's greatest asset, it is necessary for them to become more concerned with and invest more in improving information security practices. This will allow us to control the seemingly uncontrolled growth of information loss and theft within companies in the future.
In the global context of the study, research was conducted with over 2,000 organizations. It was possible to list the 7 main points considered for defending against potential data attacks and breaches, which are:
1. Investment against information breaches is ongoing. Organizations need to include a security budget in their planning in order to implement their information protection strategies.
2. There are serious risks of business compromise as a consequence of information loss . Companies need to take steps to retain consumer trust and reduce the long-term financial impact.
3. Third-party attacks remain the biggest problem . These types of attacks tend to be more serious, requiring a lot of time to repair and causing greater damage;
4. The longer it takes to resolve problems, the greater the damage. Measures should be taken to expedite the detection and resolution of potential problems;
5. The healthcare and financial services sectors are the biggest targets. The most important data needs the greatest protection.
6. Expansion of governance programs. Actions to train, raise awareness, and manage employees and leaders.
7. Collaboration is increasingly important. The study showed that costs were reduced when companies shared information about attacks and the deployment of technologies to prevent data loss.
Share your experience or opinion about the information security measures implemented in your company in the comments!
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