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Cloud Research Findings: Hackers Feast On A Hefty $1 Billion In Brazil

Cloud Research Findings: Hackers Feast On A Hefty $1 Billion

Fairly recently, analytics giant Price Water House Cooper (PwC) had made its research outcome public. The report throws light on the trembling discovery that hackers have cumulatively laid their dirty hands upon an amount as large as US $1 billion rightly belonging to enterprises stationed in Brazil. Worse than that, Business Software Alliance has ranked Brazil as the top-most cloud unready nation among the 24 momentous others that make up more than 80% of the globe’s communication and information technology.

The release by PwC establishes that close to one-third of ventures in Brazil (to pinpoint, 32%) fell prey to cyber attacks during the past year. The average value of the same is lower globally: 23% only. Out of the cornered 32%, 8% are reported to have suffered a consequent monetary loss more than $ 5 million. These statistics sure are gloomy for the rapidly progressing Brazilian economy.

Part of the PwC study included surveying about 3870 senior level executives in over 72 countries. It was alarming to discover that in the year 2009, cyber crime was of no significant concern according to those executives. The same, today, is viewed as one of the top definite sources of unease among the decision makers in the Brazilian business scene, second to pilfering of physical possessions. The last nail in the coffin appears to be the reprehensible finding that 71% of the culprits originate from within the company; the mainstream (67%) enjoying management roles.

Business Software Alliance (BSA) is the world’s foremost software trade coalition. BSA comprises of almost 100 top notch software ventures, including likes of Siemens, Intel, Apple and Microsoft, pumping in billions of dollars per annum aimed at creating software.

Folks at BSA have scrutinized more than 24 countries that collectively form a little more than 80% of the world’s communication and information technology sector. The drill involved categorization of the countries based on no less than seven parameters. The parameters include: fortification of intellectual property, IT infrastructure, cyber security, data integrity and privacy, free trade, technology compatibility and interoperability, and finally synchronization of law and legal framework.

According to the analysis by BSA, Japan stands out as the most cloud-ready country, with Australia, Germany and France closing in. Occupying the last spot in the list, Brazil is nowhere close to being cloud-ready yet.

A multitude of reasons fuel Brazil’s cloud un-readiness. The core reason is lack of laws vouchsafing privacy and integrity of across the cloud data transfer. Feeble legislation against cyber offence is another compelling factor behind the country’s cloud immaturity. Brazil is yet to formulate and implement apposite regulations to streamline the flourishing of ITC sector.

Contemporary criminal laws within Brazil in the context of digital offence are not in accordance with the existing international standards. Brazil has obvious gulfs in the security of intellectual property and is yet to sign the WIPO Copyright Treaty, a global agreement on copyright law endorsed by affiliate countries of World Intellectual Property Organization (WIPO). Other fundamental shortcomings include the prevalence of online piracy and inadequacy of filed lawsuits.

By Humayun Shahid

Humayun

With degrees in Communication Systems Engineering and Signal Processing, Humayun currently works as a lecturer at Pakistan's leading engineering university. The author has an inclination towards incorporating quality user experience design in smartphone and web applications.

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