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June 11, 2024

Latin America (LATAM) Cyber Threat Landscape 2023-24

  • The LATAM region continues to be a major target for cyberattacks from 2023 to the present. Over 100 ransomware attacks have been reported, with Lockbit leading with 59 attacks, followed by Alphv, Clop, and others. The manufacturing sector is the hardest hit, experiencing 18 attacks, followed by Financial Services and Technology, each with 10. Retail and Logistics have also faced significant disruptions.
  • The sale of compromised data, including email accounts and sensitive databases, is prevalent, highlighting regional cybersecurity vulnerabilities. Advanced malware campaigns, such as Chavecloak and Mispadu, are increasingly targeting finance, technology, and government sectors.
  • Election-related cyber threats have risen, with deep-fake videos and social media manipulation aiming to disrupt electoral processes. 
  • This surge in ransomware and other cyber threats underscores the urgent need for robust cybersecurity measures across all sectors in LATAM.

Authors & Contributors

Santripti Bhujel
Cyber Threat Researcher at CloudSEK
Sparsh Kulshrestha
Sparsh is a Cyber Security Analyst at CloudSEK.
Matias Ehrhardt da Cunha
Account Executive LATAM
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Latin America (LATAM) Cyber Threat Landscape 2023-24

The Report highlights how LATAM region faces over 100 ransomware attacks in 2023-24, led by Lockbit. Manufacturing, finance, and tech sectors are hardest hit. Data breaches, advanced malware campaigns, and election cyber threats surge, highlighting urgent cybersecurity needs.

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  • The LATAM region continues to be a major target for cyberattacks from 2023 to the present. Over 100 ransomware attacks have been reported, with Lockbit leading with 59 attacks, followed by Alphv, Clop, and others. The manufacturing sector is the hardest hit, experiencing 18 attacks, followed by Financial Services and Technology, each with 10. Retail and Logistics have also faced significant disruptions.
  • The sale of compromised data, including email accounts and sensitive databases, is prevalent, highlighting regional cybersecurity vulnerabilities. Advanced malware campaigns, such as Chavecloak and Mispadu, are increasingly targeting finance, technology, and government sectors.
  • Election-related cyber threats have risen, with deep-fake videos and social media manipulation aiming to disrupt electoral processes. 
  • This surge in ransomware and other cyber threats underscores the urgent need for robust cybersecurity measures across all sectors in LATAM.