New edition of the ISG Provider Lens™ study highlights that the so-called “mother of all breaches” (MOAB) repository should make companies more preventive in their security approach, but the stance is still reactive
Companies need to adopt a security mindset at all organizational levels, train employees and maintain a proactive stance to ensure business continuity in an increasingly interconnected and challenging digital environment. According to the new edition of the ISG Provider Lens™ Cybersecurity – Solutions and Services 2024 study for Brazil, produced and distributed by TGT ISG, the ongoing financial and reputational damage indicates that companies may still be adopting reactive attitudes towards security investments, which can result in missed opportunities to establish a comprehensive information security plan, which requires years to reach adequate maturity and must be supported by experienced providers.
“With the establishment of the General Data Protection Act (GDPA), it was expected that companies and government agencies would adopt in-depth measures to review and protect sensitive data, and thereby raise overall cybersecurity maturity. What we see, however, is a proliferation of cases of personal data being taken for the most varied uses and the enrichment of databases on the dark web, at the service of new waves of attacks and damage to consumers,” comments Christian Horst Alves Reis, distinguished analyst at TGT ISG and author of the study.
The report highlights the existence of a repository called MOAB (“mother of all breaches”), containing 26 billion records from companies all over the world. It is estimated that 350 million records from large Brazilian companies alone have been added to the global leaks of Brazilians’ credentials on e-commerce sites and social networks. According to the report, companies need to act “with urgency and a 360-degree view”, protecting their data through encryption solutions, managing identities effectively, increasing the resilience of their critical environments and adopting frameworks, such as those from NIST or ISO, as a guide for structuring actions.
“If, on the one hand, we have modern, tireless, well-prepared and motivated hackers, on the other, we need discipline, intelligence, well-selected partners, people with a critical eye and a different sense of urgency,” says Christian. “Let’s look at the pace of adoption of the zero trust stance in more developed countries, where the issue is considered a priority, compared to the difficulty in our market in obtaining initial resources. By keeping up the delays in adopting the new antidotes, we attract an increasingly better-equipped global hacker community.”
“In 2023, we again saw a significant increase in reports of cyber-attack incidents, indicating a mismatch between the speed and effectiveness of companies’ adoption of good practices and tools and the proliferation of threats and criminal agents who, with impunity, seek easy and quick gains in all sectors of the economy. We can see that, after the peak in cyber attacks in 2020 and the significant drop in 2021, we have a worrying scenario, confirming the trend indicated in the previous study,” explains the author.
The report points to a significant increase in phishing attempts in Brazil, both for corporate emails and for individuals. According to Kaspersky data, around 42.8% of phishing attempts involve messages sent by e-mail, mainly posing as banks or payment systems. The evolution of ransomware attacks continues to be one of the most significant and potentially lucrative threats.
Among the main trends are a focus on more specific targets, such as government organizations, health systems, educational institutions and large corporations with high visibility, with the aim of maximizing both the impact and the value of the ransom. In addition, it is notable that less experienced hackers are increasingly resorting to ransomware as a service (RaaS), allowing them to share the profits and results obtained from data extractions.
The author stresses that companies must promote a secure environment by adopting recommended technologies and a security mindset at all levels, especially at C-level. This includes continuous training, defining security policies and simulating incidents. “Aligning security with business objectives is essential, as it is a competitive differentiator that protects the brand and shareholder value. A proactive stance makes it possible to review existing practices, anticipate new threats and exploit digital opportunities with greater confidence.”
According to the report, the demand for advanced cyber security solutions, such as extended detection and response (XDR) and security service edge (SSE), is driven by the evolving threat landscape, the growth of cloud adoption and the need for comprehensive security frameworks. “These innovative platforms tackle critical business challenges, offering resilient and effective protection for digital assets and business operations,” he concludes.
The ISG Provider Lens™ Cybersecurity – Solutions and Services 2024 report for Brazil evaluates the capabilities of 96 providers in nine quadrants: Identity and Access Management, Extended Detection and Response (Global), Security Service Edge (Global), Extended Detection and Response, Technical Security Services, Strategic Security Services, Managed Security Services – SOC (Large Accounts), Managed Security Services – SOC (Midmarket) and Vulnerability Assessment and Penetration Testing.
The report names IBM as a Leader in six quadrants, while ISH Tecnologia is named as a Leader in five quadrants. Accenture and Logicalis are named as Leaders in four quadrants each, while Broadcom and Microsoft are named as Leaders in three quadrants each. Agility Networks, Capgemini, CrowdStrike, Deloitte, NTT DATA Inc, Palo Alto Networks and Trend Micro are named as Leaders in two quadrants each, while Cato Networks, Cipher, Cisco, Edge UOL, EY, Forcepoint, Fortinet, GC Security, IT. eam, Kaspersky, Netskope, Okta, PwC, RSA, SEK, senhasegura, SentinelOne, Stefanini, Unisys, Versa Networks, YSSY and Zscaler are named as Leaders in one quadrant each.
“In 2023, we again saw a significant increase in reports of cyber-attack incidents, indicating a mismatch between the speed and effectiveness of companies’ adoption of good practices and tools and the proliferation of threats and criminal agents who, with impunity, seek easy and quick gains in all sectors of the economy. We can see that, after the peak in cyber attacks in 2020 and the significant drop in 2021, we have a worrying scenario, confirming the trend indicated in the previous study,” explains the author.
The report points to a significant increase in phishing attempts in Brazil, both for corporate emails and for individuals. According to Kaspersky data, around 42.8% of phishing attempts involve messages sent by e-mail, mainly posing as banks or payment systems. The evolution of ransomware attacks continues to be one of the most significant and potentially lucrative threats.
Among the main trends are a focus on more specific targets, such as government organizations, health systems, educational institutions and large corporations with high visibility, with the aim of maximizing both the impact and the value of the ransom. In addition, it is notable that less experienced hackers are increasingly resorting to ransomware as a service (RaaS), allowing them to share the profits and results obtained from data extractions.
The author stresses that companies must promote a secure environment by adopting recommended technologies and a security mindset at all levels, especially at C-level. This includes continuous training, defining security policies and simulating incidents. “Aligning security with business objectives is essential, as it is a competitive differentiator that protects the brand and shareholder value. A proactive stance makes it possible to review existing practices, anticipate new threats and exploit digital opportunities with greater confidence.”
According to the report, the demand for advanced cyber security solutions, such as extended detection and response (XDR) and security service edge (SSE), is driven by the evolving threat landscape, the growth of cloud adoption and the need for comprehensive security frameworks. “These innovative platforms tackle critical business challenges, offering resilient and effective protection for digital assets and business operations,” he concludes.
The ISG Provider Lens™ Cybersecurity – Solutions and Services 2024 report for Brazil evaluates the capabilities of 96 providers in nine quadrants: Identity and Access Management, Extended Detection and Response (Global), Security Service Edge (Global), Extended Detection and Response, Technical Security Services, Strategic Security Services, Managed Security Services – SOC (Large Accounts), Managed Security Services – SOC (Midmarket) and Vulnerability Assessment and Penetration Testing.
The report names IBM as a Leader in six quadrants, while ISH Tecnologia is named as a Leader in five quadrants. Accenture and Logicalis are named as Leaders in four quadrants each, while Broadcom and Microsoft are named as Leaders in three quadrants each. Agility Networks, Capgemini, CrowdStrike, Deloitte, NTT DATA Inc, Palo Alto Networks and Trend Micro are named as Leaders in two quadrants each, while Cato Networks, Cipher, Cisco, Edge UOL, EY, Forcepoint, Fortinet, GC Security, IT. eam, Kaspersky, Netskope, Okta, PwC, RSA, SEK, senhasegura, SentinelOne, Stefanini, Unisys, Versa Networks, YSSY and Zscaler are named as Leaders in one quadrant each.
In addition, Asper, Capgemini, KPMG, Kyndryl, Palo Alto Networks, Ping Identity, Skyhigh Security, Stefanini, TIVIT and Trellix are named as Rising Stars – companies with a “promising portfolio” and “high future potential” by ISG’s definition – in one quadrant each.