Leveraging Consumer Cybersecurity Awareness

Cybersecurity has become a primary concern in an increasingly digital world, and of all the potential vulnerabilities for businesses, a lack of awareness among consumers remains the most significant threat.  

 “As cyberattacks grow more sophisticated, driven by emerging technologies like artificial intelligence, fostering a comprehensive cybersecurity culture among both consumers and organizations has become a crucial priority, says Héctor Méndez Olivares, President of COPARMEX's Cybersecurity Roundtable at MCS 2024 ECHO. 

To support this, Méndez highlight the fact that cyberattacks occur every 39 seconds globally, with 95% of breaches caused by human error, a figure expected to contribute to cybercrime costs hitting US$10.5 trillion by 2025.

 Among most notable threats, Méndez emphasized that ransomware, phishing through deepfakes, and attacks on Internet of Things (IoT) devices are particularly alarming, as they not only compromise data but also pose risks to physical safety. This risk is especially concerning in critical industries such as healthcare and energy, where breaches can have far-reaching and potentially life-threatening consequences.

But Méndez stresses that the fundamental issue lies in the fact that many consumers are not adequately informed about cybersecurity best practices or the risks they face, creating a significant security gap for companies, with users often being the weakest link in the defense chain. 

“Organizations should invest in training and awareness programs that cover critical aspects such as password management, the use of multi-factor authentication (MFA), software updates, and the use of legal antivirus,” said Méndez on how to address these vulnerabilities. “Implementing password managers and education on configuring secure IoT devices are essential to ensure comprehensive protection.”

Besides internal initiatives, Méndez emphasized that companies must collaborate with government entities and international organizations to promote security standards and best practices. This collective effort not only protects consumers but also strengthens cybersecurity infrastructure on both national and global levels. 

However, three significant challenges hinder the realization of this goal. First, the task of creating a cybersecurity culture is often met with consumer resistance to change and a lack of motivation to adopt security practices. A prevalent issue is that many users continue to rely on weak passwords, fail to regularly update their devices, and remain unaware of the risks posed by IoT devices.

Another challenge lies in companies' ability to maintain consumers’ sustained attention and long-term commitment to cybersecurity education programs. “Information must be presented in an accessible and understandable way, tailored to different levels of knowledge and with a focus that motivates users to keep learning,” Méndez noted.

Finally, the rapid pace at which cybercriminals adopt new technologies to automate attacks poses a continual challenge to defense strategies. In response, ongoing education must be aligned with emerging cyber threats, requiring regular updates and a dynamic approach to training.

COPARMEX, representing 35,000 companies nationwide, is actively working to support businesses in addressing these challenges. Méndez emphasized the need to focus not only on technological solutions but on people as the first line of defense. “If we focus only on the ‘hardware’ and not on the people, we are failing,” he cautioned.

Efforts to raise cybersecurity awareness are expected to reduce incidents driven by human error significantly. As consumers become more familiar with best practices and adopt technologies like multi-factor authentication and secure passwords, these vulnerabilities are expected to decline.

“Maintaining a steadfast commitment to cybersecurity education and outreach is essential for both companies and authorities," Méndez emphasized. "The future of cybersecurity hinges on enhanced collaboration between the public and private sectors to establish sustainable educational policies and initiatives that foster cyber awareness across all levels of society."

Méndez concluded by calling for a sustained commitment to cybersecurity education and collaboration between public and private sectors. He also highlighted the lack of comprehensive legal frameworks in Mexico and Latin America to address cybersecurity challenges. “We have been discussing this with lawmakers for three years, but it remains a challenge as politicians may understand the law but often lack technical knowledge,” he said.