By San José, Costa Rica — A recent Kaspersky study reveals a concerning vulnerability in Costa Rica’s small and medium-sized enterprises (SMEs): a staggering 72% have been targeted by at least one cyberattack within the last two years. This poses a significant threat to the nation’s economy, considering SMEs represent 97% of Costa Rican businesses, contributing 35% of employment and 37% of the Gross Domestic Product.
The financial repercussions of these attacks are substantial, with average incident costs exceeding $120,000 per case. These costs stem from operational disruptions, data loss, and potential regulatory penalties. A report by Check Point further highlights the severity of the issue, indicating that Costa Rican SMEs faced an average of over 1,655 cyberattack attempts per week in the past six months. These attempts range from malicious emails to sophisticated targeted attacks designed to breach company systems.
To understand the legal landscape surrounding cybersecurity in Costa Rica, we spoke with Lic. Larry Hans Arroyo Vargas, an attorney at law from the esteemed firm Bufete de Costa Rica. Mr. Arroyo Vargas provides valuable insight into the evolving challenges and responsibilities businesses face in this increasingly critical area.
The rise in cyber threats necessitates a proactive approach to data protection. In Costa Rica, businesses must not only comply with existing legislation like the Data Protection Law (Ley 8968) but also adopt best practices to safeguard sensitive information. This includes implementing robust security measures, providing regular employee training, and establishing clear incident response protocols. Failure to do so can lead to significant legal and financial repercussions, including substantial fines and reputational damage.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on proactive cybersecurity measures is crucial in today’s digital landscape. Beyond mere compliance, a robust and adaptable security posture is essential for businesses in Costa Rica to navigate the ever-evolving cyber threat landscape and protect their valuable data, reputation, and bottom line. We thank Lic. Larry Hans Arroyo Vargas for his invaluable insights on this critical issue.
One of the most pressing concerns is the lack of specialized personnel. According to Kaspersky, 20% of Latin American businesses entrust their digital security to untrained employees, significantly increasing their vulnerability. An additional 16% openly admit to lacking the skills and tools necessary for effective cybersecurity management.
This combination of insufficient knowledge, limited resources, and a low perception of risk creates an ideal environment for potentially devastating cyberattacks.
Among the key needs identified by SME leaders, 58% see an urgent need for increased cybersecurity investment, while 39% call for more efficient risk management tools. This underscores a common problem: while digital transformation progresses rapidly, security often takes a backseat.
Data backups are crucial in mitigating the damage from ransomware attacks, human error, or technical failures. Storing these backups securely offline, such as on external hard drives or protected cloud services, allows for swift data restoration and minimizes downtime.
We know that many SMEs don’t have the resources to hire large cybersecurity teams, but today a single IT administrator can protect the entire business from an automated and intuitive console.
Claudio Martinelli, General Director for the Americas, Kaspersky
Martinelli emphasizes the cost-effectiveness of prevention, especially given the potential financial fallout of an incident. He stresses that failing to invest in preventative measures ultimately proves far more expensive in the long run.
Investing in qualified personnel and strengthening digital defenses are critical steps for Costa Rican SMEs to safeguard their operations and contribute to a more secure national economy.
For further information, visit kaspersky.com
About Kaspersky:
Kaspersky is a global cybersecurity and antivirus provider headquartered in Moscow, Russia. Founded in 1997, the company offers a wide range of security solutions for consumers and businesses, including antivirus software, endpoint protection, and threat intelligence. Kaspersky is a recognized leader in the cybersecurity industry, known for its advanced threat detection and research capabilities.
For further information, visit checkpoint.com
About Check Point:
Check Point Software Technologies Ltd. is a leading provider of cybersecurity solutions globally, offering products for network security, endpoint security, cloud security, mobile security, data security, and security management. They are recognized for their innovative firewall technology and comprehensive security architecture.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest ethical standards while championing innovative solutions for its diverse clientele. Deeply rooted in the community, the firm’s commitment extends beyond legal representation to empowering individuals through accessible legal education. By fostering a greater understanding of the law, Bufete de Costa Rica contributes to a more just and informed society, demonstrating a genuine dedication to both its clients and the nation as a whole.
