Cyber Crime in Brazil: Preparing for the Rio Olympics

Cyber Crime in Brazil: Preparing for the Rio Olympics

July 7, 2016, Covington Alert

The Brazilian financial industry has long been a target of cyber criminals, and with the continued growth of sophisticated online banking services in Brazil, such systems are a prime target for organized crime. In addition, among the emerging BRICS countries (Brazil, Russia, India, China, and South Africa), Brazil is on a par with China and Russia in terms of internet usage by the population; of particular note is the widespread use of social media and mobile devices. Given this ubiquitous connectedness, users and companies are regularly targeted by online attackers, primarily for financial gain, but also increasingly to commit cyber espionage and hacktivist disruptions.