Jaqueline Monteiro, Insurance and Risk Manager, SAE Towers
We live in a connected world, which brings many advantages for business. However, it also exposes companies to cyber invasions that can negatively impact corporate image and finances.
The agenda on cybersecurity is in the center of debates around the world, as cybercrime is currently one of the major global threats. In addition to exposures to private data and information, a cyber-attack can have a major financial impact. According to Cyber Security Ventures, in recent years, financial losses from hacker attacks have exceeded USD 6 trillion worldwide, surpassing losses from natural disasters on the same period (that was approximately USD 600 billion). In 2022, cyber-attacks increased around 38%. The shocking numbers represent the largest transfer of economic wealth in history, directly impacting corporate finances. The most common incidences are fraudulent phishing schemes, that is, data leakage caused by viruses entering the system via email or links with malicious content and ransomware, which is data kidnapping. The targets were mainly educational institutions and companies in the health sector followed by…
