Latin America and the Caribbean (CALA) experienced more than 360 billion cyberattacks in 2022.
FortiGuard Labs’ latest Global Threat Landscape report points to a haunting reality for the CALA region. Hack attempts grew relentless during 2022. Mexico was the most targeted country in the region, followed by Brazil, Colombia and Peru.
As the number of cyberattacks increased, businesses in the region scrambled to implement sophisticated technological solutions to protect themselves from cybercriminals.
Derek Manky, chief security strategist at FortiGuard Labs, suggested CALA firms to focus on solutions based on machine learning technology, adding that they gather intelligence about potential threats well in advance.
#FortiGuardLabs released the latest Global Threat Landscape Report, revealing that wiper #malware has increased over 50% from Q3 to Q4 and that #ransomware still remains a global threat due to the rise of Ransomware-as-a-Service.
— FortiGuard Labs (@FortiGuardLabs) February 22, 2023
Over the last year, wiper malware has infected IT networks in many countries across the region. Another malicious payload known as Log4j has stolen sensitive information from the systems of government and educational institutions.
Log4j is more than two years old, and there are tech solutions widely available to protect IT systems from infection. Yet, many CALA organizations have yet to use them, according to the report.
The study found that over 80% of cyberattacks were executed for monetary gain, with espionage accounting for only 13%.
Ransomware has become so well-known that it is offered now in a ransomware-as-a-service (RaaS) modality. While businesses strengthen their IT networks with new technology, cybercriminals fine-tune their tactics to overcome defensive barriers.
“Cyber adversaries are not just automating threats, but actively retrofitting code to make it even more effective,” the report noted.