Financial Crime World

Latin American and Caribbean Banking Sector Exposed to Cyber Threats

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Unaware Users of New Cybersecurity Threats

A recent study by the Organization of American States (OAS) has revealed that users of banking sector entities in Latin America and the Caribbean are largely unaware of new cybersecurity threats, despite being heavily reliant on online media for information.

  • 78% of users rely mainly on news websites, blogs, and specialized sites for their digital security updates.
  • 67% use social networks to stay informed.
  • Only 40% of users are informed about new cybersecurity threats through security campaigns carried out by their banking entities.

Inadequate Measures Against Digital Incidents

The study also found that many users are not taking adequate measures to prevent digital incidents. The most frequent measure taken is:

  • Using antivirus software on computers (84%)

Fewer users employ more advanced security practices, such as:

  • Exclusive access to reliable computers
  • Using tokens and complementary authentication means

Awareness of Digital Security Incidents

The report highlights a significant lack of awareness among users about digital security incidents. The results show that:

  • 62% of users said they had not experienced an incident.
  • 27% reported being affected by an incident.
  • 11% claimed they did not know if they were affected.

Types of Digital Incidents

The most common types of digital incidents reported by affected users are:

  • Phishing fraud and social engineering via email (49%)
  • Other types of compromise (36%)
  • Infection with malicious software (35%)

Impact of Cybersecurity Risks

The study found that 67% of users consider the existence of cybersecurity risks to affect their decision to use digital media in the banking sector.

Conclusion

Strengthening digital security risk management is crucial to create a trusted digital environment for all. The full report, including detailed findings and analysis, can be accessed through the OAS website.

Full Report Available

[Insert link to full report]