Collaborative Cybersecurity: Uniting for A Secure Ecosystem

Cybercrime is a lucrative business, growing on par with the sprawl of an emerging global digital economy, with damages of breaches expected to balloon to as much as US$10.5 trillion annually by 2025, according to estimates by Cybersecurity Ventures. An escalation evidenced by two years of incessant attacks and several high profile breaches across the Americas, prompting a shared urgency to foment cybersecurity resilience. 

Despite the positive momentum generated by this collective concern, addressing the challenge remains arduous due to the absence of essential regional norms, standards and rules that are crucial for effectively mitigating and preventing cybercrime. The multifaceted nature of this challenge is further compounded by the fact that all potential stakeholders are grappling with incomplete information about each other's intelligence, capabilities and actions, which influence the overall outcome of the cybersecurity landscape. 

In the context of cybersecurity in the Mexico-US and broader Latin American region, governments and companies emerge as primary stakeholders with significant power, each driven by distinct yet sometimes overlapping incentives and concerns. Governments bear the critical responsibility of establishing and enforcing cybersecurity policies and regulations, motivated by their vested interest in safeguarding national security, critical infrastructure and sensitive information. Likewise, companies across various industries are highly motivated to protect their valuable assets, including intellectual property and customer data, as any exposure of these secrets can lead to detrimental reputational damage and substantial financial losses. 

However, stakeholders involved in addressing escalating cybersecurity threats face significant limitations stemming from their incomplete understanding of the cybersecurity landscape. This critical issue arises from their restricted access to comprehensive and accurate data necessary to fully comprehend and track the evolving magnitude of the threat. Despite commendable efforts by governments to establish cybersecurity policies and regulations, challenges persist in collecting real-time intelligence across different government agencies and jurisdictions. Moreover, a general reluctance among companies to disclose security breaches, driven by concerns about reputation and legal implications, further contributes to the information gaps faced by concerned stakeholders.

These information gaps collectively distort the true nature of the cybersecurity landscape, hindering the development of effective targeted solutions. As the World Economic Forum highlights, these gaps make it “impossible to understand the true magnitude of the challenge, let alone develop the necessary strategies to combat it.” Bridging information gaps and promoting enhanced data sharing among stakeholders are essential steps toward achieving a more comprehensive understanding of the cybersecurity landscape, allowing for the development of effective countermeasures.

Stay informed about the ongoing discourse surrounding the evolving challenge of cybersecurity and explore potential solutions, including Mexico-US bilateral collaboration, information sharing and the emergence of norms in the cybersecurity landscape at the Mexico Cybersecurity Summit 2023. This two-day hybrid event, taking place on June 7-8, brings together industry leaders and experts from Mexico's various sectors, with the participation of over 200 cybersecurity professionals. Gain valuable knowledge and perspectives to navigate the dynamic cybersecurity landscape and contribute to the collective efforts in fostering a secure digital environment.