Understanding cybersecurity challenges in Latin America is essential for companies. Cybersecurity supports operational stability, protects confidential information, and helps projects succeed.
Broadly speaking, corporate cybersecurity includes the practices, technologies, methods, and processes used to reduce threats linked to the use, handling, and storage of data, documents, and information online.
How countries and regions develop cybersecurity capacity is important for effective, efficient, and sustainable protection.
Why is corporate cybersecurity so important?
The original article cites a Kaspersky Latin American threat report stating that two out of three cyberattacks in the region targeted companies.
It also reports more than 37.2 million attacks against organizations in the first months of 2020, with Mexico accounting for 22.81% of documented corporate cases and ranking second in the region.
According to the report cited, one-third of malware attacks on small and medium-sized companies in Latin America exploited vulnerabilities in the SMB communication protocol, used for network printers and computer-server connections, among other purposes.
The article also cites a pre-pandemic estimate attributed to MIT that worldwide cybercrime costs might reach $6 trillion a year by the end of 2021. These historical figures illustrate the article's concern that cyberattacks were growing and industrial cybersecurity was becoming more important.
Damage caused by cyberattacks on companies
Cyberattacks can cause substantial financial losses and other serious harm, including:
- Loss of confidential data
- Large fines
- Severe damage to the company's reputation
- Loss of significant amounts of money
The article notes that increasingly complex attacks can exploit inadequately protected systems.
At EthicsGlobal we believe training and awareness are essential to effective corporate cybersecurity.
Employees and leaders alike should know what to do, which technologies and behaviors are prohibited, and which simple rules can help reduce attacks. Contact us to learn more.
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