For the third consecutive year, VU Security, a cybersecurity company focused on fraud prevention and identity protection, prepared a report to know the perception of both users and corporate leaders regarding trends, the scope of the Internet of Things and the detection of potential risks, with the aim of understanding the vision of users in the face of current attacks.
At the same time, it allows to know details about the frequency with which frauds occur, if there are sectors in charge of cybersecurity in the companies, and how they react when they arise.
The report is based on responses from executives, managers and technicians from more than 16 countries, including Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Italy, Mexico, Panama, Peru, Dominican Republic and Uruguay.
45.3% of the participating organizations claim to have suffered at least one cyberattack in the last three years. Among them are, in first place, phishing with 51.9%, in second place, malware with 49.1%, and, in third place, ransomwarewith 38%.
According to 32.4% of respondents, the sectors most affected by cyberattacks and cybersecurity breaches are the brand image and reputation. 29.8% think that these types of attacks have negative consequences on the company's finances and finally, 24.4% believe that the greatest impact is on operations. While this trend holds across all countries, respondents in Ecuador and Guatemala expressed their belief that attacks have more impact on finances than on brand image and reputation.
However, only 9.2% of cyberattack victims admit to losing customers as a result, a trend that remains consistent across all participating countries.
Considering that phishing is the most common attack, VU seeks to highlight the increasing importance of fraud prevention and identity protection. It is therefore essential to find out which are the worst vulnerabilities and how users take care of their cybersecurity. 41.3% of participants agree in mentioning mobile devices as the most vulnerable to online threats, in addition to the habit of users to share passwords and access tokens, which 65.8% of respondents considered to represent the greatest security risks.
Nowadays, social networks play an important role in people's lives. "That is why during the study we considered it important to also assess the perception of respondents regarding attacks through these platforms," said Sebastian Stranieri, CEO of VU. When asked what are the most frequent scams, 61.8% considered that the main modality are fake offers to join new groups or participate in events and 50.7% referred to fake applications.
"The exponential increase in the number of interconnected devices is a key and sensitive security issue," explained Stranieri. In the report, VU Labs found that 29.9% of respondents consider that the main risk has to do with the device's accessibility to users' sensitive information. While 24% refer to the lack of legislation regarding the security measures that such devices must have. On the other hand, 19% perceive user impersonation as a risk.
The study showed that respondents' perceptions of cybersecurity, its challenges and threats remain consistent across all countries, with very few exceptions detailed in the full report.
"The report aims to provide an updated perspective on the state of cybersecurity in Latin America," said Stranieri. "We hope this report will be useful for executives in the region so they can adapt digital security solutions, stay ahead of changes and offer updated services to address new threats, and provide solutions that ensure the protection of citizen identity, help prevent fraud and promote financial inclusion," he concluded.
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