Cybersecurity in the LATAM Financial Sector

MODULE 1: INTRODUCTION
This survey, prepared by the Digi Americas Alliance and Duke University, gathers data on cybersecurity in your financial entity and the impact of potential cybersecurity incidents in your region. This information will be used to prepare an Executive Report for the Financial Sector of Latin America and the Caribbean. This project will involve answering a comprehensive survey to gather insights into your organization's cybersecurity practices, challenges, and governance effectiveness.

Your contribution will be critical in shaping an Executive Report on the Financial Sector, which will provide a detailed understanding of cybersecurity's current state and impact throughout the region. Participating in the survey will help establish a regional benchmark for cybersecurity practices and give you access to a wealth of data that can help you make strategic decisions within your organization.

The Executive Report, once published, will provide comparative insights enabling you to evaluate your institution's cybersecurity posture against regional standards and trends. This opportunity will help you review your strategies and enhance your cybersecurity framework, leading to a safer financial environment across Latin America and the Caribbean. Your engagement in this initiative will also contribute to the collective effort to fortify our defenses against cyber threats, ensuring a robust and resilient financial sector for the future. Furthermore, participating in the survey will offer you several tangible benefits, including:
- Strategic Benchmarking: Gain insights into how your cybersecurity practices compare with regional standards and trends, enabling strategic adjustments and improvements.
- Access to Comprehensive Data: Once the report is published, you can access an Executive Report summarizing the survey findings. This report provides a rich data source on cybersecurity practices, challenges, and successes across the financial sector in Latin America and the Caribbean.
- Enhanced Cybersecurity Posture: Utilize the report's findings to strengthen your institution's cybersecurity measures, adopt best practices, and address identified gaps.
- Contribution to Regional Security: Share your experiences and challenges to help shape a more secure financial environment and create a collective effort to understand and combat cyber threats.
- Awareness and Preparedness: Benefit from a detailed analysis of the current cybersecurity landscape, including prevalent threats and effective countermeasures, fostering a culture of understanding and preparedness within your organization.
- Networking and Collaboration Opportunities: As part of our dissemination efforts, and once the report is published, you can engage with a network of peers and cybersecurity experts through the Digi Americas Alliance and LATAM CISO Network, opening avenues for collaboration and shared solutions to common challenges.
To ensure the confidentiality of the information for the individual respondents and their organizations, the Digi Americas Alliance will not request any information that can be identified personally or traced back to the organization. The responses will be collected, assessed, and disseminated at the aggregate level; thus, no information will be available about any individual or institution.

The questions in this survey are intended to capture your engagement at the local level of your institution for the bank operating in your country, including if your institution serves as the bank’s headquarters.

Your participation is invaluable, and we look forward to your insights and contributions toward advancing cybersecurity in the financial sector of Latin America and the Caribbean.

If you have any questions, don't hesitate to get in touch with us at info@latamciso.com

Thank you for your support and participation!

MODULE 2: ENTITY CHARACTERISTICS
1.1 Is your institution part of the financial services sector?*

YesNo

MODULE 4: CYBERSECURITY IN THE FINANCIAL SECTOR
GOVERNANCE
3.1 Does your bank’s Board of Directors receive periodic reports on indicators and management of cybersecurity?*

YesNo

3.2 Is there a designated person on the Board of Directors who is responsible for cybersecurity matters?

YesNo

3.3 On a scale from 1-5 (5 being most difficult) how easy is it for you to showcase management results and the strategy status to the board?

1 - Very Easy2 - Easy3 - Moderate4 - Difficult5 - Very Difficult

AWARENESS AND TRAINING
3.7 Does your bank have cybersecurity awareness training for its employees?*

YesNo
3.8 Is phishing email training a component of cybersecurity awareness training for employees?*

YesNo

SECURITY ENVIRONMENT
3.15 Does your bank use any of the following emerging digital technologies? [Select all that apply]*

Artificial IntelligenceBlockchain & Decentralized Finance (DeFi)Internet of Things (IoT)Augmented RealityCloud ComputingQuantum ComputingMachine LearningOther

3.16 How and through what tools does your bank use Artificial Intelligence? (short answer)

3.17 Does the bank manage cryptocurrency transactions?*

YesNo, we never haveNo, we used to and stopped
3.18 How much influence does your security department have in the selection of technology used by your development/technology department?*

The security department is a decision-maker when technology is selected for implementationThe security department only provides recommendations or suggestions on technology implementationThe security department has no influence when technology is selected for implementation

INCIDENTS & REPORTING
3.19 Has your bank experienced a cybersecurity incident in the last 12 months? A cybersecurity incident is a successful attack to the institution in the same period.*

YesNo

3.32 If you answered “Yes” to 3.31, how often does your bank perform these external assessments?

ContinuouslyEvery QuarterEvery SemesterEvery Year

CYBERSECURITY BUDGET
3.37 Is your cybersecurity budget separate from your organizations IT budget?*

YesNo

3.38 What percentage of the IT budget is spent on cybersecurity?

0% - 10%11% - 20%21% - 25%25% - 40%40% +

Optional Information
Name

First NameLast Name
Email
example@example.com
Should be Empty:

MODULE 1: INTRODUCTION

MODULE 2: ENTITY CHARACTERISTICS

MODULE 3: CHARACTERIZATION OF THE FINANCIAL INSTITUTION (BANK)

MODULE 4: CYBERSECURITY IN THE FINANCIAL SECTOR

GOVERNANCE

AWARENESS AND TRAINING

POLICY

SECURITY ENVIRONMENT

INCIDENTS & REPORTING

CYBERSECURITY RISK MANAGEMENT

CYBERSECURITY BUDGET

Optional Information