LatAm Businesses Ramp up Investment in Cybersecurity: Study

More than 43% of businesses in Latin America have ramped up investments in cybersecurity this year, according to research firm IDC.

Many of them are going for cloud security systems, which they think are strong enough to protect their data. The recent versions of cloud security systems identify security threats well in advance.

“The cloud continues to be the great enabler of business transformations and it is expected that, by 2023, 35% of security solutions in Brazil will already be cloud-enabled,” reported the BNAmericas, quoting Luciano Ramos, IDC Brasil’s enterprise research and consulting manager, as saying.

Considering the report, around 37% of LatAm businesses using IT security services want to invest in solutions that gather intelligence on potential cyber threats.

“The concept refers to the mapping of risks and to the information an organization relies on to assess the threats that are targeting or might target its assets,” the news outlet added.

Latin America has long been the worst victim of cyberattacks. During 2020, around 61% of companies in the region suffered cyber incidents, reports Spanish publication El Norte citing ESET security report.