Rising Insider Threats, Pentesting and Digital Voting

In Mexico and the broader Latin American region, insider threats and malvertising techniques are on the rise, demanding greater public consciousness on the potential consequences of cybersecurity breaches.  

The pentesting market is projected to reach a market value of US$2.7 billion by 2027, driven by expanding application cases, including the security assessment of digital voting machines. This example is representative of larger cybersecurity concern regarding IoT devices, which are further expanding the potential attack surface of organizations. The inherent vulnerabilities of this technology could potentially inflict a US$10.5 billion impact on the global economy.

This is the week in CyberSEC:

Cybersecurity in Mexico and LATAM

SILIKN: Insider Threats on the Rise in Mexico

Aside from grappling with cybercriminals targeting their IT infrastructure, businesses worldwide are grappling with the consequences of simple mistakes made by employees who lack basic cybersecurity awareness and IT knowledge. Research conducted by SILIKN shows that financial losses stemming from insider threats are on the rise, as companies often overestimate their employees' ability to recognize and defend against potential cyberattacks.

Appgate Identifies Malvertising Surge in Latin America

Malware variants such as ransomware and spyware have emerged as a growing threat to businesses operating in Latin America. However, a critical technique employed by cybercriminals to facilitate such attacks is malvertising, where seemingly legitimate digital advertisements are embedded with malicious code. These malvertising campaigns redirect users to phishing websites and are frequently distributed through major search engines such as Google, Bing and Yahoo.

Industry Trends 

Pentesting Market Expected to Reach US$2.7 Billion by 2027

As the frequency and sophistication of cyberattacks continue to rise, organizations are seeking innovative solutions to bolster their digital resilience. One essential cybersecurity measure is penetration testing, where ethical hackers simulate a variety of cyberattacks on computer systems, networks or web applications to uncover potential software vulnerabilities. This approach holds particular potential in Latin America, which was the target of over 63 billion cyberattack attempts during the 1H23, as reported by Fortinet.

Penetration Test Ensure Digital Voting Transparency

As the US presidential elections approach, government institutions are actively seeking cybersecurity solutions capable of enhancing the integrity of digital voting systems in response to widespread concerns about their transparency. While resilient security measures have been successfully integrated into voting machines, penetration testing stands out for its efficiency. This process involves simulating potential cyberattacks against a network to identify and address vulnerabilities and ensure the security and reliability of the voting process.

Cyberthreats to Have US$10.5 Billion Impact in Global Economy

Approximately 5 billion people actively access and store data on both physical devices and cloud platforms, according to Infosecurity Mexico. This trend constitutes a cybersecurity risk that has prompted 30% of IT executives to allocate greater resources to bolster their security controls. The underlying rationale is straightforward: as data access channels grow, so does the potential surface area for cyberattacks.

Executive Perspective 

Cybersecurity Lessons from the World of Elite Sports

Cybersecurity professionals often face daunting threats with limited resources and preparation, akin to an amateur facing a professional heavyweight boxer. To succeed, businesses must invest in robust cybersecurity programs, raise awareness at the executive level and appoint a CISO to oversee strategy and manage cyber risks. By fostering the development of a comprehensive cybersecurity toolset and leveraging automation for scalability, an organization’s security team can adapt to the ever-evolving cybersecurity threat landscape. Through this approach, a company "will not only stop cybercrime, but also develop swift and seamless communication among its workforce," says Oscar Montes, Country Manager, Radware.