Porto Seguro, Brazil’s third-largest insurance firm, has reported a cyberattack on their systems that caused instability to their service channels. The cyberattack against the insurance firm was reported to the Securities and Exchange Commission (CVM). Upon learning about the incident, the insurance firm has immediately enabled their security protocols and slowly re-establishing their operating environment to normal as soon as possible.
There is no further information regarding the type of attack that the insurance firm has experienced. Nonetheless, Porto Seguro has highlighted that any personal data of customers, partners, and the company were not involved with the cyberattack.
Headquartered in São Paulo, Porto Seguro tops the residential and car insurance firms in Brazil. It has over 10 million customers and over 13,000 employees throughout its business lines, such as credit provision.
The Brazilian insurance firm is listed as the latest company that suffered from a major cyberattack recently.
Aside from Porto Seguro, other firms in Brazil have also suffered from cyber threats recently, including CVC, a travel operator company, and Renner, a retail chain.
According to research, with most businesses in Brazil that suffer from cyberattacks, only less than a third of these organisations have security teams in place. The study has also found that the most prepared organisations for cybersecurity include insurance, telecom, financial services, and technology. In comparison, the most vulnerable organisations to cyber threats include the healthcare and education sectors. A separate study reveals that Brazilian organisations are more prone to cyberattacks.
The research is intended to determine the consumers within the data exchange environment’s degree of concern regarding their security against risks and threats. It revealed that 13% of people involved in the poll deemed their information to be very secure against threats, while 21% believed that their data was not secured and was compromised.
Together with the Ministry of Justice, the banking sector has begun discussing strategies to address cybercrime threats against the digital landscape. These strategies include the expansion of identifying and stopping threat actors and promoting permanent cooperation among public and private organisations regarding cybersecurity. Public awareness campaigns on frauds and risks are also included.
