IDB-OAS report: Many LATAM countries still lack critical infrastructure protection plans against cyber attacks
Study finds more than half of countries in the region have improved cybersecurity efforts over past four years, but said there was more work needed
Cybertech
| 10/08/2020
Photo: Bigstock
The majority of Latin American countries have improved their cybersecurity efforts over the past four years, but the region is still lacking in responding to cyberattacks, a new report has recently found.
The study, "Cybersecurity: Risks, Progress, and the way forward in Latin America and the Caribbean" is the second edition of a report that assesses the state of cybersecurity readiness in the region published by the Organization of American States and the Inter-American Development Bank (IDB).
According to the findings, since the last study carried out in 2016, more than half of the countries in the region have improved their cybersecurity by developing and implementing national strategies and in some cases legal frameworks to better respond to evolving cyber threats, including increased protection of citizens’ personal data.
However, the report found that despite the progress, more than three-fourths of the countries observed currently lack the critical infrastructure protection plans necessary for responding to cyberattacks.
“The message of this report is clear: Latin America and the Caribbean need to do more to improve its cybersecurity situation now,’’ said Ana María Rodriguez, the IDB’s Vice President for Sectors. “The findings are crucial to guide government efforts in the region, especially as the COVID-19 crisis accelerates our reliance on digital platforms in our professional and personal lives.”
The report also found that the economic impact of cyber incidents in Latin America and the Caribbean stood at over $90 billion in 2019 alone.
The study stated that the majority of countries are in need of more systematic and efficient capabilities to monitor and respond to cybersecurity incidents, as well as central bodies tasked with coordinating cybersecurity activities.
Additionally, the report highlighted the need for more "active cooperation" among all countries and bodies to increase cybersecurity readiness and address threats such as cybercrime, cyber attacks on critical networks and politically motivated cyber operations.
Farah Diva Urrutia, OAS Secretary for Multidimensional Security said that the report "can serve as a roadmap for Member States and diverse stakeholders who are continuously looking for ways to adapt to emerging cybersecurity threats affecting our region."
The issues pertaining to cybersecurity in Latin America will be discussed by leading experts at the Cybertech Live LATAM event on August 11th.
Study finds more than half of countries in the region have improved cybersecurity efforts over past four years, but said there was more work needed
Photo: Bigstock
The majority of Latin American countries have improved their cybersecurity efforts over the past four years, but the region is still lacking in responding to cyberattacks, a new report has recently found.
The study, "Cybersecurity: Risks, Progress, and the way forward in Latin America and the Caribbean" is the second edition of a report that assesses the state of cybersecurity readiness in the region published by the Organization of American States and the Inter-American Development Bank (IDB).
According to the findings, since the last study carried out in 2016, more than half of the countries in the region have improved their cybersecurity by developing and implementing national strategies and in some cases legal frameworks to better respond to evolving cyber threats, including increased protection of citizens’ personal data.
However, the report found that despite the progress, more than three-fourths of the countries observed currently lack the critical infrastructure protection plans necessary for responding to cyberattacks.
“The message of this report is clear: Latin America and the Caribbean need to do more to improve its cybersecurity situation now,’’ said Ana María Rodriguez, the IDB’s Vice President for Sectors. “The findings are crucial to guide government efforts in the region, especially as the COVID-19 crisis accelerates our reliance on digital platforms in our professional and personal lives.”
The report also found that the economic impact of cyber incidents in Latin America and the Caribbean stood at over $90 billion in 2019 alone.
The study stated that the majority of countries are in need of more systematic and efficient capabilities to monitor and respond to cybersecurity incidents, as well as central bodies tasked with coordinating cybersecurity activities.
Additionally, the report highlighted the need for more "active cooperation" among all countries and bodies to increase cybersecurity readiness and address threats such as cybercrime, cyber attacks on critical networks and politically motivated cyber operations.
Farah Diva Urrutia, OAS Secretary for Multidimensional Security said that the report "can serve as a roadmap for Member States and diverse stakeholders who are continuously looking for ways to adapt to emerging cybersecurity threats affecting our region."
The issues pertaining to cybersecurity in Latin America will be discussed by leading experts at the Cybertech Live LATAM event on August 11th.
