Banxico spent 1.06 billion pesos on cybersecurity

Banco de México allocated 1.0615 billion pesos to cybersecurity over the past 11 years, according to reporting by El CEO. The spending focused on assessing the financial system's cyber resilience, putting cybersecurity policies and guidelines in place, and strengthening detection of computer incidents.

Where did Banxico's spending go?

The amount was distributed across assessment work, policy design, and detection capabilities, according to El CEO's coverage. Those areas point to an investment aimed at both preventing and responding to cyber events within the financial system.

El CEO's report does not provide additional breakdowns by year or project in this material, but it does place Banxico's effort as a long-term accumulated investment. The central figure is the total amount, which exceeds 1 billion pesos, and the operational focus of that spending.

What obligations do banks report under the Circular Única?

A Nu México publication says the Circular Única de Bancos sets out information security obligations for institutions, including naming an information security officer and reporting incidents to the CNBV. According to that publication, the initial notice must be made immediately.

Nu México adds that detailed incident information must be submitted within five business days of identification, depending on the risk level and the regulatory forms. Under that framework, reporting does not end with an early notice, because banks must also supplement it with more precise documentation within a set timeframe.

The regulatory reference helps contrast the central bank's spending with the operational obligations that financial institutions face. While Banxico concentrated resources on cybersecurity capabilities, the Circular Única establishes a response and communications process for incidents that banks must follow before the CNBV.