Impact of Digital Security Incidents in Colombia 2017

The Latin American and Caribbean (LAC) region shows evidence of a broad and growing adoption of information and communication technologies (ICT). More than half of the population connects regularly to the internet, and it is the region with the heaviest use of social networks. Connectivity offers clear economic benefits, by increasing its productivity and offering opportunities for inclusion to all citizens. However, the digital environment carries risks that we cannot afford to ignore: government entities, private companies, organizations, and individuals are exposed to the growing threats of cybercrime. The present instrument, developed by the government of Colombia, through its Ministry of Information and Communications Technologies (MINTIC), the Organization of American States (OAS), and the Inter-American Development Bank (IDB), offers a vision of the level of preparation of Colombian public entities and private companies to face threats to their digital security. It also allows for a deeper awareness of the economic costs of cyber incidents for different sectors of the country's economy, presenting findings in terms of enterprise profiles. This report provides much needed data to quantify the scope of the impact of cyberattacks in LAC, along with recommendations for strengthening the capacity of the public sector and private enterprises to prevent them.