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Cybercrime

Latin America makes excellent target for cybercriminals

Cybercrime targets are diversifying. Once it was internet users in Europe and North America that appeared to bear the brunt of a lot of cybercrime. They were, after all, the more advanced users with the latest services like online banking, e-commerce, and social media, all creating a treasure trove waiting to be exploited. But things in Latin America have changed drastically in this time.

A UN report recently noted that developing countries are becoming increasingly online with broadband and mobile penetration higher than ever but the lacklustre quality of these services was exacerbating the digital divide between these countries and the developed world. At the same time, a 2016 study from the Inter-American Development Bank on the state of cybersecurity in Latin America laid out in no uncertain terms that the region was ill-equipped to deal with cyberattacks.

What do lacklustre services like those in the Latin American region mean when it comes to cybersecurity?

What does the security landscape look like in APAC? Check out: APAC: A hotbed of cybercrime

“For most security software companies, Latin America is an important but not critical market. Success is determined typically by the US first and EMEA second, with a couple notable exceptions,” explains Dimitri Sirota, CEO of data protection firm BigID. “While there are several reasons, one factor is, of course, that the pain is greatest in US, Europe and increasingly places like China: big corporations, large populations, heavy regulation, big tort liability.”

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Jonathan Keane

Jonathan Keane is a freelance journalist, living in Ireland, covering business and technology

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