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

International Monetary Fund

No 2022/340, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 42
Date: 2022-11-10
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