Cover IMF Staff Country Reports
Mexico: Financial Sector Assessment Program-Technical Note on Cyber Resilience and Financial Stability
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 340
Language:
English
Publication Date:
10 Nov 2022
DOI:
https://doi.org/10.5089/9798400224720.002
ISBN:
9798400224720
ISSN:
1934-7685
Pages:
42
Keywords:
information security; financial system Stability Council; cybersecurity risk supervision; Banco de México; supervision of participant; simulation exercise; payment system oversight function; Cyber risk; Financial sector; Financial sector stability; Infrastructure; PFM information systems; Global
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 340