Study Reveals Brazil Is a Big Target for Cyberattacks

A recent study by Kaspersky Labs shows that Brazilian users are at a significantly higher risk of being targeted for cyberattacks than any other country in Latin America.

Kaspersky Labs has released a study that confirms the most targeted country for cyberattacks in Latin America – Brazil. The study was based on over 400 million incidents related to cyberattacks in Latin America from 2015 alone, reports ZDNet.

The cybersecurity firm has recorded over 27 million hacking attempts targeting Brazil this year, accounting for 31 percent of its internet users. Other countries such as Mexico, Colombia, Peru and others figured around 20 percent, the study claims. Unsurprisingly, Brazil is also the country with the highest internet penetration in all of Latin America.

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Much like the U.S., Brazilian companies and organizations need to improve their work in cybersecurity and to shore up defenses to safeguard data online. These are the views of William Beer, managing director of a cybersecurity law firm.

“There is a lack of focus on cybersecurity both in the public and private sector. Senior executives at organizations don’t really see that as a priority,” Beer contests.

Additionally, the economic turmoil Brazil is currently undergoing will only serve to cutting budgets and expenses on cybersecurity, Beer says. A similar situation unfolded during the economic downturn that struck the UK in 2008. The first causality of spending cuts was cybersecurity, notes Beer.

“That is because security wasn’t considered something that would provide immediate returns. However, those organizations suffered to rebuild their security teams and strategy later on,” he adds.

Lowered defenses coupled with increased layoffs during a recession directly means increased risk, with incidents of fraud, identity and information theft going up.

However, there are additional pressing concerns with Brazil specifically, notes Beer.

“These trends (incidents of cyberattacks) are compounded by the fact that in Brazil there is no requirement to disclose any information about information breaches,” he points out.