Cybersecurity risks have become a primary concern for governments, businesses, and individuals across the globe. However, the nature and scope of these risks differ based on regions due to variations in infrastructure, economic priorities, geopolitical factors, and cultural attitudes towards cybersecurity. Latin America and Asia, two rapidly growing regions in the digital economy, present a striking contrast in their approach to cybersecurity, the threats they face, and their readiness to address them.
Why compare these two regions?
Because they are receiving the greatest number of Cyber Threats in a Digital World
Cybersecurity is a critical issue in both Latin America and Asia due to the growing digitalization of economies and the widespread adoption of technologies such as cloud computing, artificial intelligence, and the Internet of Things (IoT). The new oil? Everybody is behind the sensitive data that businesses and governments have on digital platforms, storing and managing critical operations without much security around or in it, turning into more attractive targets for cybercriminals.
According to data from global cybersecurity reports, cyberattacks are escalating in both Latin America and Asia. However, the risks these regions face are shaped by unique factors, such as the level of technological infrastructure, government policies, and the maturity of cybersecurity frameworks. While both regions are experiencing a surge in cyber threats, the nature and impact of these risks vary significantly.
What is going on in Latin America and Asia Pacific?
Latin America, with its growing digital economy, is increasingly vulnerable to cyberattacks. However, the region faces several challenges that exacerbate these risks, including limited cybersecurity expertise, lack of or inadequate regulation, and varying levels of economic development across countries.
On the other hand, Asia is one of the most diverse regions in the world, both economically and technologically. It includes highly developed countries like Japan and South Korea, rapidly developing economies such as India and Indonesia, and emerging digital hubs like Vietnam. This diversity leads to a wide range of cybersecurity risks and responses across the region.
Challenge #1. No budget for cybersecurity infrastructure. One of the most significant cybersecurity risks in Latin America is the region’s chronic underinvestment in cybersecurity infrastructure. Many countries in the region have been slow to recognize the importance of cybersecurity, and this has resulted in inadequate protection against cyber threats. According to reports by the Organization of American States (OAS), Latin American countries invest less than 1% of their GDP in cybersecurity, far less than developed nations. This lack of investment leaves critical sectors, such as banking, healthcare, and government services, particularly vulnerable to cyberattacks.
Challenge #2.- The rise of ransomware attacks. Latin America is not only being hit by drug cartels, but also by cyber hackers. What a mess! Since 2021, ransomware attacks increased dramatically, with Brazil, Mexico, and Colombia being the hardest hit. Cybercriminals target both businesses and government institutions, demanding large sums of money to unlock compromised systems. For example, the healthcare sector has been particularly affected, with hospitals and clinics struggling to recover after being locked out of critical patient data. The lack of preparedness in responding to such attacks is a key issue in Latin America. Many organizations, especially smaller businesses, do not have robust backup systems or incident response plans in place, making them easy targets for ransomware operators.
Now, Asia as the largest and fastest-growing economies in the world has attracted cybercriminals seeking to exploit vulnerabilities in the region’s digital infrastructure. Cybercrime is on the rise in Asia, with countries like India, Indonesia, and Vietnam experiencing a surge in phishing attacks, online fraud, and data breaches. Techno-nomads, literally!
One of the factors driving the increase in cybercrime is the rapid expansion of internet connectivity across the region. As more people in Asia gain access to the internet, cybercriminals are taking advantage of the region’s relatively weak cybersecurity measures to launch attacks. Additionally, the COVID-19 pandemic has accelerated digital transformation in Asia, creating new opportunities for cybercriminals to target remote workers and online services.
Challenge 3.- Weak Cybersecurity Legislation. In Latin America there is a huge gap and lack of comprehensive cybersecurity legislation. While some countries have made efforts to pass cybersecurity laws, enforcement remains weak. For example, Brazil passed its General Data Protection Law (LGPD) in 2018, but the implementation of data protection and cybersecurity measures has been inconsistent. In contrast, countries like Venezuela and Nicaragua lag far behind in adopting any meaningful cybersecurity regulations. Besides, LGPD implies Cybersecurity and Compliance (policies and procedures) which for “check-the-box” it has been promoted only on paper, without a proper assessment, back to Challenge #1. This lack of regulatory cohesion across the region has created a patchwork approach to cybersecurity, with some countries making strides in strengthening their defenses while others remain highly vulnerable.
Au contraire, Asia’s cybersecurity landscape is characterized by a wide disparity in cybersecurity readiness. Countries like Japan, South Korea, and Singapore are considered leaders in cybersecurity, with robust legal frameworks, advanced technology, and strong government support for cybersecurity initiatives. For example, Singapore has established itself as a global leader in cybersecurity by creating the Cyber Security Agency of Singapore (CSA) and implementing a national cybersecurity strategy.
Like Latin America we have countries such as Cambodia, Myanmar, and Laos that have limited resources and capabilities to address cybersecurity risks. These countries often lack the infrastructure, expertise, and regulatory frameworks necessary to defend against cyberattacks, making them attractive targets for cybercriminals.
Challenge #4. Skills Gap and Lack of Awareness. The shortage of cybersecurity professionals is a major issue in Latin America. The region lacks the skilled workforce necessary to build and maintain secure digital systems. This skills gap is further compounded by a lack of awareness among businesses and the public about cybersecurity risks. In many Latin American countries, cybersecurity is not seen as a top priority, leading to complacency and a reactive rather than proactive approach to cyber threats.
However, in Asia, in response to the growing cyber threat, many Asian countries have enacted cybersecurity laws and regulations. China, for instance, has implemented strict cybersecurity laws that require companies to store data within the country and allow the government to inspect their security measures. Similarly, Japan has passed several laws aimed at strengthening its cybersecurity defenses, including the Basic Act on Cybersecurity and the establishment of the National Center of Incident Readiness and Strategy for Cybersecurity (NISC).
However, not all countries in the region have been as proactive. In some cases, cybersecurity laws are either outdated or poorly enforced, leaving gaps in the region’s defenses. Additionally, the lack of harmonization between national laws creates challenges for multinational companies operating across different jurisdictions. At the end, even the creation of a Cyber-Police in both regions does not means much due to the workload and lack of professionals to really investigate into the thousands of issues coming to their attention and not much to engagement or sanctions – a true fact!
Challenge #5. Geopolitical Factors and Cybercrime. Latin America’s geopolitical landscape also plays a role in shaping its cybersecurity risks. The region is home to various criminal organizations that have expanded their operations into cybercrime. Additionally, state-sponsored cyberattacks from outside the region, particularly from Eastern Europe and Asia, pose a growing threat to Latin America’s digital infrastructure.
In the meantime, in Asia one of the most significant cybersecurity threats in Asia comes from state-sponsored cyberattacks. Countries such as China and North Korea have been accused of conducting sophisticated cyber espionage campaigns aimed at stealing sensitive information from governments and corporations across the region. These attacks often target critical infrastructure, such as power grids, telecommunications networks, and financial institutions.
State-sponsored attacks in Asia are often motivated by geopolitical tensions. For example, China’s alleged cyberattacks on India have been linked to ongoing border disputes between the two countries. Similarly, North Korea’s cyber activities are believed to be aimed at undermining South Korean and U.S. interests in the region.
Conclusion
Asia has more mature cybersecurity frameworks and proactive government measures stand in contrast to Latin America’s underinvestment and fragmented approach. However, both regions must continue to invest in cybersecurity infrastructure, legislation, and workforce development to stay ahead of evolving cyber threats in an increasingly interconnected world. It requires budget, training and awareness to enforce the legislations and implement the necessary frameworks.