Latin American Nations Vulnerable to Cybercrime

A recent study found that Latin America has become one of the new hotbeds for cybercrime.

Most reports of cybercrime tend to come out of either the United States or the Asia Pacific region. These areas are generally marked by widespread network connections and readily available internet service. However, nations with far less sophisticated network infrastructures are beginning to experience cyberattacks with greater frequency. Latin America, in particular, has emerged as a hotbed for cybercriminal activity.

One of the major challenges facing data security efforts in Latin America is the region's technological limitations and the resulting difficulty to establish extensive and effective network defenses.

"What has become most evident for regional leaders and observers, though, is the realization that outdated technology and infrastructure prevents governments from best protecting the security of their citizens and their institutions," Sean Bartlett wrote in Foreign Policy Digest. "These vulnerabilities leave the countries of LAC open to internal and external attacks at a time when some of them are confronting enormous, unprecedented challenges."

Cybercrime on the rise
Cybercriminals have exploited those vulnerabilities to great effect over the past two years. A recent study on the state of cybersecurity in Latin America and the Caribbean conducted found that data breaches had surged between 2011 and 2012, with the recorded number of incidents rising by 40 percent in some countries such as Mexico.

Unlike some nations that are more entrenched in tense geopolitical relations like China, South Korea and the United States, Latin American countries witnessed very little state-backed cybercrime. The vast majority of recorded incidents could be attributed to financially motivated data thieves or hacktivists. However, the number of cyberattacks launched against industries and sectors commonly targeted by foreign cyberspies such as utilities and financial centers increased over the past year.

Raising awareness on potential threats
According to the study, Latin American nations were affected more by file-infecting programs than any other type of malware last year. The report concluded that users and server managers were failing to properly update patching solutions for their operating systems as well as secure storage devices. Researchers recommended that officials in the region make efforts to raise awareness regarding the threat of cybercrime and what steps should be taken to prevent significant data breaches. For instance, using data encryption software has been a time-tested method  of securing the files regardless of whether they are kept on storage devices such as external hard drives or in cloud environments. Individual users and enterprises alike can leverage these tools to protect sensitive files from being accessed by cybercriminals. Encryption solutions are an essential component of a well-rounded and holistic approach to cybersecurity practices.