BEC Attacks, Microsoft 360: This Week in CyberSEC

Corporate emails have emerged as prime targets for cyberattacks, particularly Business Email Compromise (BEC) attacks in Mexico. Meanwhile, Banxico proposes additional cybersecurity controls for both SPEI and SPID payment systems to enhance the protection of end-users. At the same time, Mexican cybersecurity experts fear collateral damage from rising tensions between the US and China following an alleged state-sponsored cyberattack on critical infrastructure running on Microsoft’s Office 360.  

In international news, Google unveils a new privacy tool that will enable users to take swift action in safeguarding their data, effectively curbing potential cyberthreats.

This is the week in Cybersecurity:

Cybersecurity in Mexico

Business Email Compromise (BEC) Cyberattacks Increase in Mexico

Corporate emails have emerged as prime targets for cyberattacks, particularly Business Email Compromise (BEC) attacks in Mexico. Their objective is to gain unauthorized access to sensitive business information by deceiving employees into divulging confidential access data. According to Kaspersky, BEC attacks have increased significantly since the pandemic, accounting for more than 50% of cybersecurity incidents. 

Banxico Proposes Additional SPEI Cybersecurity Controls  

As individuals increasingly embrace secure online transactions, their confidence in digital payment platforms grows, driving greater financial activity and spurring innovation. To fortify the safety of these financial ecosystems and guarantee the seamless operation of online transactions, Banxico has proposed regulatory adjustments to two financial systems: the Interbank Electronic Payment System (SPEI) and the Interbank Dollar Payment System (SPID). 

Microsoft’s Vulnerabilities Worry Mexico’s Cybersecurity Experts

Mexican cybersecurity experts fear collateral damage from rising tensions between the US and China following an alleged state-sponsored cyberattack on critical infrastructure running on Microsoft’s Office 360. Despite Microsoft's commitment to cybersecurity, its systems have inadvertently played a pivotal role in various malicious campaigns in Mexico and most companies still rely on the company’s computing services.

Google Unveils New Privacy Control Tool

Google has unveiled a new privacy control tool, allowing users to streamline the process of safeguarding their personal information from public view. Through its latest innovation, Google will proactively alert users when it discovers their contact details – such as addresses, phone numbers or emails – scattered across the web. This early warning will enable users to take swift action in safeguarding their data, effectively curbing potential cyberthreats and effectively increasing social awareness concerning cybersecurity risks. With this new tool, Google hopes to encourage users to be more proactive about safeguarding their information.

Executive Perspective 

How Digital Transformation is Changing the Rules of the Business Game

The adoption of digital technologies has profoundly altered organizational operations, customer interactions and market responses, ushering in both opportunities and challenges. The integration of technologies like AI, big data and IoT throughout organizations, is redefining business dynamics by removing barriers, offering growth opportunities, improving decision-making and enhancing customer experiences. "However, to succeed in this digital age, it is necessary to address security challenges and promote a culture of change and adaptability," says Luca Nan, CEO, Alkemy Latam.