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OAS Report Reveals that 9 out of 10 Banks in Latin America and the Caribbean Suffered Cyber Incidents during the last year

  September 25, 2018

The Organization of American States (OAS) presented on Tuesday the Report "State of Cybersecurity in the Banking Sector in Latin America and the Caribbean, which includes an analysis of the past year in the banking sector and online banking users in aspects related to cybersecurity.

The full report is available here:
English and Spanish

The main findings of the report are:

- at least 9 out of 10 banking entities suffered cyber incidents? during the last year.

- 37% of the banks in the region were victims of successful attacks.

- 39% of the incidents were not reported, in the case of the largest banking entities this number goes down to 19%.

- 6 out of 10 users, who do not use digital banking services, don’t trust the security of bank transactions.

The Secretary General of the OAS, Luis Almagro, said "guaranteeing the security of citizens, the private sector and governments in the cyber world is one of the priorities on the agenda of our member countries, since the opportunities offered by digitalization also bring threats that must be faced. With this report, the OAS wants to offer the countries of the region and their banking entities, a tool that allows them to analyze and improve their cybersecurity capabilities, improving the right of users to secure banking services.

The presentation was made during the OAS Cybersecurity Symposium taking place from September 24th to 28th in Washington, DC, with the participation of global experts in different areas of cybersecurity, who will exchange knowledge and good practices on specific topics: privacy and human rights, forensic analysis, cyber risk management, strategic development and implementation, and the management of Cyber Attack Response Centers, among other topics.

You can follow the symposium live here:
English and Spanish

The complete agenda of the event is available here:
English and Spanish

Access to pictures of the event here.

Press contact:
Miguel Ángel Cañada
mcanada@oas.org

Reference: E-056/18