These days, when we talk about “protecting” a company, we think of securing data. There’s been a major push worldwide, including in Brazil with the LGPD, to improve data security. But protecting your Brazilian company requires more than just a cybersecurity strategy.

Since the government implemented PIX, a banking tool that allows users to easily and immediately transfer funds to another bank account, Brazil has seen a sharp increase in armed robberies. Held at gunpoint, people are being forced to use their phones to transfer money to bank accounts controlled by criminals.

While PIX has made it easier for people to make payments, the change has had the unintended result of increasing crime. And the problem applies both to personal as well as business accounts.

If you manage a Brazilian company, do you have access to the company’s bank account on your phone? Just think about how easy it would be for someone to clear out your account if they got access. Sure, you have a password, but does that really matter if you’re under duress?

It’s also not just money you should worry about. Consider what sensitive business information you keep on your phone, such as passwords and contacts. Sadly, armed robberies where victims are forced to unlock and handover their mobile devices are now routine.

In light of these developments, it’s time to reconsider what you do to protect your Brazilian company. Securing business data, both digitally and physically, should be at the forefront of every business owner’s mind.