Cyberattacks in Mexico are a reality

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Mexico faces major challenges in the area of ​​cybersecurity due to the accelerated growth of its digital activity, low cybersecurity awareness, and laws that need updating.

If you are not a wolf, you have to be a lamb.
Lack of cybersecurity awareness makes us attractive prey for online predators. More importantly, if we do not take proactive actions to protect our data and systems, we are ideal candidates for ransomware, malware, phishing.

Furthermore, this lack can lead to bad practices such as weak passwords or lack of software updates, making life even easier for cybercriminals. This can delay threat detection and response to potential attacks. And believe me, attacks are the order of the day.

Mexico is attractive for cybercriminals. It has many Internet users who still do not correctly understand the cyber risks. In addition, Mexico's Personal Data Protection Law dates back to 2011, compliance directors email lists which means it is not adapted to the new threats and challenges of the network. Although it is also true that there is already a new cybersecurity law in the works, as we have already shared with you.

The sophistication of cybercriminals
Criminal groups in Mexico are becoming more and more professional every day. They are using the national territory to test their attacks in the US, Europe and Asia.

Specifically, there is a worrying rise in corporate data hijacking in various parts of the world. Commonly known as ransomware, it involves an individual encrypting files or limiting access to a computer system, demanding a ransom in exchange for their release or decryption.

Mexico is no exception to this plague. In 2023, we are ranked second in Latin America in terms of detections of this type of malware. And so far in 2024, ransomware remains a significant problem. This leads to immense economic losses, as we will see below.

Cyberattack against Coppel
Yes, that Coppel. This giant in the department store (and financial services!) sector was the target of a sophisticated attack that significantly disrupted the operation of its online store, causing errors, slow navigation and the inability to complete purchase transactions.

Various sources speak of a minimum of 48 hours of paralysis of their systems and weeks of gradual recovery of services. In addition, although these are only preliminary estimates, the economic losses would be above 100 million pesos (approx. 5.5M USD) and it is not clear yet that the recovery is complete.

The cyberattack not only negatively impacted the operations of its online platform, but also the regular functioning of its warehouses and its Retirement Fund Administrator (Afore).

If this can happen to a company of that size, imagine the devastation that a successful cyberattack represents for an SME. And yes, smaller organizations with less visibility are also in the crosshairs of cybercriminals.



In conclusion, only through a combination of preventative measures and increased awareness of the importance of online security can the impact of future incidents in the country be effectively mitigated.