Rio de Janeiro was home to more than just the Olympic Games this past summer, but also some of the most prominent cyber fraud activity in the world.
Brazil is now home to some of the most sophisticated hackers and software in the world after hacking systems from Eastern Europe were purchased there. Brazilian hackers have built on and developed additional software that has enabled them to combat obstacles that may arise within location-specific networks. Through this, they are more capable of accessing sensitive Internet user information from remote areas.
In 2015, Internet fraud cost the Brazilian banks more than $550 million USD. Since then, cyber crime in the country has been labeled as an epidemic by the U.S. State Department’s Bureau of Diplomatic Security.
One of the best ways to prevent debilitating breaches on personal account information is by diversifying passwords. However, only eight percent of computer users do not repeat passwords. By reusing passwords, which the majority of users are guilty of doing, hackers have easier access to accounts that they did not work to break open.
Brazil’s hacker network has grown drastically not only to superior hacking tools, but by the establishment of brick and mortar centers where hackers are able to disperse knowledge on how to better their scamming practices.
Some hackers have even released public displays of their exploits on social media with pictures of massive amounts of cash, as well as in songs, like “Rap dos Hackers.”
One part of the rap, originally in Brazilian Portuguese, translates to:
“I’m a virtual terrorist, a criminal; on the Internet I spread terror, have nervous fingers; I’ll invade your PC, so heads up; you lose, ‘playboy’, now your passwords are mine.”
Due to the massive influx in Rio’s economy as a result of the Olympic games, hackers were quick to pay close attention to transactions that could be easily breached, as the profits could be equally large.
In preparation for the games, Brazilian authorities recruited 200 security experts in order to monitor WiFi access points and install additional security systems.
The International Olympic Committee expressed confidence in the country’s ability to minimize cybersecurity compromises during the games’ duration.