first_imgBy Dialogo January 01, 2012 Banks in Brazil, Mexico and Argentina are the hardest hit in Latin America by fraud in online commerce and theft of confidential data, a practice known as phishing. The total bank losses in the region top $93 billion a year, found an investigation conducted by Proyecto Amparo, a Montevideo-based group that aims to strengthen regional capacity for prevention and response to cyber security incidents in Latin America and the Caribbean. The report explains that these threats are becoming more complex and more sophisticated. The average cost of a cyber attack is $50,000 to a bank, or $50 to $60 per affected account, the study added. The scope of cyber crime in Latin America is worrisome, with very likely scenarios of cyber attacks and distressing consequences for the population, the report said. Source: Agence France-Presselast_img

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