From Holly K. Sonneland, “LatAm Minute: James Bosworth on the State of Cybersecurity in Latin America”, American Society / Council of the Americas (AS/COA), May 13th 2015.
While virtually no one anywhere is immune from a cybersecurity threat, Latin America is a vulnerable region. “The whole developing world is less secure in many ways because there’s so much pirated software,” Read More
- Data breach on the rise, especially on consumer credit (identity, financial, medical).
- Targeted attacks continue to grow (hacktivism)
- Social media scams are on the rise (breaches on personal information thru social media websites and using information for blackmail or other scams)
- Banking Trojans and heists (Initially in Mexico malware affecting ATMs are now throughout Latin America)
- Major events provide rich target for cyber criminals (World Cup, Summer Olympics)
“Cyber-espionage, privacy concerns, and malicious insiders made headlines and shaped much of the cyber security discourse in 2013. Nevertheless, several large scale data breaches at the end of the year showed that cybercrime remains rampant and threats from cybercriminals continue to menace governments, businesses, and individual end users. Cybercrime continued to offer quick profits while the prospects for apprehending hackers and online fraudsters proved to be limited in all jurisdictions. These factors contributed to the high costs of global cybercrime in 2013, which, although inherently hard to measure, is widely estimated to be at least $113 billion – enough to buy an iPad for the entire populations of Mexico, Colombia, Chile and Peru.(01) In Brazil alone, cybercrime costs reached $8 billion, followed by $3 billion for Mexico, and $464 million for Colombia.(02) Globally, eight breaches each exposed 10 million identities or more, and the number of targeted attacks increased. At the same time, lax end-user attitudes towards social media and increased adoption of mobile devices led to an escalation in scams and provided greater opportunity for cybercriminals, as mobile-based social media use plays a greater role in our lives, particularly in Latin America and the Caribbean”. Read full report
“Latin America´s cyber-crime problem is a direct consequence of the exponential growth of cyberspace across the region. Indeed, the internet and related social media tools have not just empowered citizens to exercise their rights, but also enabled and extended the reach of gangs, cartels and organized criminal,” Read More