Second Annual Risk Conference 2024
What it is about
Alejandro Negrón presented at the Second Annual Risk Conference (September 27, 2024) the trends in the cyber landscape in Latin America and the Caribbean and how to guide cyber risk management.
The 40 slides review emerging trends (incidents versus confirmed breaches, cybersecurity budgets in the region, ransomware, attacks on APIs and the supply chain, artificial intelligence risks and language models used for fraud), the asymmetry between defense and attack, how to set cyber risk appetite, the challenges of the security officer (CISO), the difference between cybersecurity and cyber resilience, and the functions of the NIST framework.
Objectives
- Describe cyber threat trends in the region and the resources used to face them.
- Frame cyber risk as a risk that must be managed and prioritized, with a defined appetite.
- Present strategies and good practices to move from prevention to cyber resilience.
Key takeaways
- Building higher walls does not solve the problem: defense must protect everything while attackers need only one opportunity, with reaction times of minutes against months of preparation.
- Many organizations in the region devote small budgets to cybersecurity and do not assess cyber risk as often as needed.
- Ransomware and attacks on web applications, APIs and the supply chain highlight the importance of managing third-party risk.
- Malicious tools based on language models (such as WormGPT and FraudGPT) are emerging that make phishing and fraud cheaper.
- The greatest risk is not taking risks: cyber risk must be managed and prioritized, and cyber resilience (preparing for the incident) complements cybersecurity.
- The NIST framework organizes management into six functions (govern, identify, protect, detect, respond and recover), and staff training is key.
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