Cybersecurity is a priority for Latin American consumers: report

Asia's Tech News Daily

A study commissioned by Mastercard to Kantar revealed that cybersecurity has become more important to consumers as they enter the digital economy more. According to the “Digital Security Barometer” revealed that 87% of consumers are aware of cyberattacks , 75% reported having been a victim of cybercriminals in one way or another, and 20% said that a company leaked their personal information .

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In less than a decade, cybersecurity has become one of the most important systemic problems for the global economy. Cyberattacks are becoming more sophisticated and costly, creating a $ 350 billion problem worldwide and costing $ 5.2 trillion annually in losses. As the use of digital services has increased throughout the COVID-19 pandemic, scams, fraud and cyberattacks against individuals and businesses have also grown rapidly.

  • To know more: See the passwords that you should never use for your security

Other data from the Mastercard Digital Security Barometer survey shows the following:

  • The protection of personal data is also important: with the increase in digitization comes the concern that personal data will be exposed. According to the survey, the protection of personal data is a sensitive issue in the region. Consumers are aware of the impact that breaching the security of their personal information can have. For 92% of consumers, the exposure of their social security number, mobile phone number and the results of their medical exams, would be the ones that would cause the “most harm”.
  • Consumers are increasingly proactive in seeking protection: when asked “how secure do you think companies keep your information”, the average score was 3 on a scale of 0 to 10, where 0 represents “Not sure “And 10 represents” Very safe. ” As a result of this perception, 70% of those surveyed say they have adopted a biometric identifier.
  • Consumers are demanding more clarity: Almost everyone has experienced the frustration of trying to decipher very short or unrecognizable purchase descriptions when looking at their card statements online. In Latin America, 77% of consumers have problems determining what some of the transactions that appear in their digital accounts correspond to.

“Building trust in every transaction and interaction is more important than ever. It is no longer enough for individual actors to invest in cybersecurity systems that offer protection just for them. All players in the payments ecosystem must invest in the right foundations and barriers that create a shield around the entire supply chain, ”says Jorge Arbesú, Senior Vice President of Cybernetics and Intelligence at Mastercard. “As a technology company in the world of payments, trust and security are essential for us,” adds Arbesú.

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