Brazil Tops Worst Cybersecurity List

Companies in Brazil may need to do some work when it comes to cybersecurity.

A report released on Thursday (May 26) stated that Brazilian businesses scored “significantly poorer” across a range of cybersecurity metrics when compared to other global markets, Reuters reported.

According to the study, which was conducted over the past year, Brazil had disappointing results on indicators such as email security, file-sharing policies and the rate of machines compromised.

“Brazil has significantly poorer performance than the other countries included in the study,” the study from security ratings company BitSight explained.

In general, the companies were deemed to be much more vulnerable to cyberattacks, such as malware infections or botnets.

It was observed that roughly half of Brazilian companies partake in unsafe peer-to-peer file-sharing practices via corporate networks, which the study said was happening at a much higher rate than other countries.

As the country prepares for the upcoming 2016 Summer Olympics, which is expected to bring 400,000 international people into Brazil and jumpstart a boost in cross-border payments needs, it may be time for companies in the country to step up their cybersecurity game.

Just a couple months ago, global corporate payments company Align Commerce announced plans to open up its Brazil corridor, a move that allows its SME clients to send and receive payments in the country, linking them to Latin America’s largest market by geographical size.

Visa has also secured its spot as the exclusive payment provider for this year’s Summer Olympics for the 30th year running.