How to Advocate for a Bug Bounty Project in Your Company?

The idea of a Bug Bounty program is a notable trend in the cybersecurity landscape. There are numerous success stories of major institutions making their systems more secure. But how can you advocate for a Bug Bounty project within your company?

Despite the increasing number of cybercrimes over the years, it's common to find companies resistant to investing in new cybersecurity measures. This is, of course, an extremely risky decision. According to research by the digital security company Avast, there was a 38% increase in ransomware attacks between 2020 and 2021. In Brazil, the number of attacks nearly doubled, reaching a dangerous 92%.

Even with these alarming statistics, the 1st National BugHunt Information Security Survey revealed that one of the biggest challenges in implementing information security programs in companies is convincing decision-makers.

What is Bug Bounty and the Benefits of Investing

First, before understanding how to advocate for a Bug Bounty project in your company, it’s important to understand what this strategy is.

The main goal of Bug Bounty is to identify cybersecurity vulnerabilities in a company’s systems in advance. This is achieved through partnerships with experts who are authorized to analyze the company’s systems, looking for potential vulnerabilities that expose the system to cybercriminals.

Once these bugs are discovered, they provide reports to the company’s information security team. If the vulnerability fits within the program’s policies and rules, the experts receive a reward for the found vulnerability.

Benefits of Investing in Bug Bounty

Knowing what Bug Bounty is makes it easier to see its benefits. Among them, many previously unknown vulnerabilities are discovered through this method.

Additionally, the rise in cybercrimes mentioned above can be a decisive factor in whether or not your company should invest in Bug Bounty.

Another important consideration is compliance with the General Data Protection Law (LGPD), which introduced new rules for internet use and personal data rights. It is crucial that your company adheres to these rules to avoid hefty financial penalties.

Manual on How to Advocate for a Bug Bounty Project

In this context, BugHunt has created the Manual on How to Advocate for a Bug Bounty Project in Your Company! This e-book provides information and data on cybersecurity and potential arguments you can present to your team.

With this material, you can understand and demonstrate why Bug Bounty is an effective strategy for your company's security. Topics covered include:

• Why does the company need Bug Bounty?
• Is Bug Bounty a very recent method?
• Why leave the company’s vulnerabilities in the hands of independent hackers?
• Is it possible to have cost predictability with Bug Bounty?
• How long does it take for your company to become more secure?

Interested and curious to read the e-book? Download it here! Also, contact the BugHunt team and learn about several success stories!