Ransomware attacks in Latin America have increased at an alarming rate. According to Fortinet’s 2024 Threat Report for Latin America, the region experienced more than 360 billion cyberattack attempts, and ransomware represents the most costly threat to businesses.
The Current Situation in the Region
Latin America has become a prime target for ransomware groups. Brazil, Mexico, Colombia, and Costa Rica have been the hardest-hit countries. The case of Costa Rica in 2022, when the Conti group attacked the Ministry of Finance and other government agencies, demonstrated that no sector is immune.
In 2024 and 2025, attacks evolved toward the model of double extortion: Attackers not only encrypt the data, but also threaten to publish it. Groups such as LockBit 3.0, BlackCat, and Play have been the most active in the region.
Key Figures Every Executive Should Know
- $4.88 million — Average global cost of a data breach (IBM Cost of a Data Breach Report 2024)
- 194 days — Average time to detect an uncontained intrusion (IBM X-Force 2024)
- 140% — Increase in ransomware attacks in Latin America between 2022 and 2024 (Kaspersky Security Bulletin)
- 70% — Most ransomware victims in Latin America are small and medium-sized businesses with fewer than 500 employees (ESET Threat Report 2024)
- $1.85 million — Average cost of recovering from a ransomware attack, including downtime (Sophos State of Ransomware 2024)
Why Costa Rican Companies Are Vulnerable
Costa Rica has a highly digitized business ecosystem compared to other countries in the region, but investment in cybersecurity has not grown at the same pace. The main factors include:
- Lack of 24/7 monitoring: Most companies only detect attacks during business hours, leaving nights and weekends unmonitored.
- Backups without restoration tests: Many organizations have backups but never verify whether they can be restored in a real-world scenario.
- Endpoints without advanced protection: Traditional antivirus software does not detect modern ransomware that uses evasion techniques such as "living off the land."
- Lack of network segmentation: A single compromised endpoint can spread ransomware throughout the entire infrastructure.
Prevention Strategies That Work
Ransomware prevention isn't a product; it's a layered strategy:
- 24/7 SOC Monitoring: A Security Operations Center detects anomalous behavior before ransomware is executed. With artificial intelligence, detection time is reduced from days to seconds.
- 3-2-1 backup verified: Three copies, on two different media, one offline. And most importantly: test the restore process monthly.
- Network segmentation: Isolate critical systems so that an incident in one area does not compromise the entire organization.
- Staff Training: 68% of breaches involve human error. Regular phishing drills drastically reduce the risk.
- Periodic penetration testing: Identify and fix vulnerabilities before attackers find them.
What to Do If Your Company Has Already Been Attacked
If you are the victim of a ransomware attack, here are the critical steps to take:
- Isolate immediately the affected systems on the network
- Failure to pay the ransom — There is no guarantee that the data will be recovered, and it funds further attacks
- Contact an incident response team a professional immediately
- Preserve evidence for forensic investigation and possible legal reporting
- Communicate in a transparent manner to customers and regulators, as applicable