Mexico: Financial Sector Assessment Program-Technical Note on Cyber Resilience and Financial Stability

November 10, 2022

Summary

Mexico’s financial system is digitalizing rapidly, increasing exposure to cyber risk. As in other jurisdictions, internet and mobile banking users in Mexico have increased substantially, but cyber incidents have also surged in recent years. The tight interdependencies within its financial system, and beyond, make Mexico vulnerable to evolving cyber threats. Thus, the Financial System Stability Council (CESF) has recognized cyber as a risk with potential to impact financial stability.

Subject: Cyber risk, Economic sectors, Financial sector, Financial sector policy and analysis, Financial sector stability, Infrastructure, International organization, Monetary policy, National accounts, PFM information systems, Public financial management (PFM), Technology

Keywords: Banco de México, Cyber risk, cybersecurity risk supervision, Financial sector, Financial sector stability, financial system Stability Council, Global, information security, Infrastructure, payment system oversight function, PFM information systems, simulation exercise, supervision of participant

Pages:
42
Volume:
2022
DOI:
https://doi.org/10.5089/9798400224720.002
Issue:
340
Series:
Country Report No. 2022/340
Stock No:
1MEXEA2022005
ISBN:
9798400224720
ISSN:
1934-7685

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