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Peru’s Financial Sector Confronts Growing Cybersecurity Threats

LIMA, PERU - March 16, 2021

The rapid rise of cybersecurity incidents in recent years has left Peru’s financial sector on high alert. The COVID-19 pandemic has created a fertile ground for scammers to target low-income consumers who are not tech-savvy, exacerbating the problem.

Combating Cybersecurity Threats: A Forward-Thinking Approach

In order to effectively combat these threats, financial institutions must adopt a forward-thinking approach that goes beyond mere protection against known risks and anticipates future vulnerabilities. This requires a comprehensive cybersecurity strategy that is:

• Proactive: Identifying potential threats before they occur
• Adaptive: Continuously monitoring and updating the system to stay ahead of evolving threats
• Robust: Implementing multiple layers of security to ensure comprehensive protection

Peru’s Regulatory Authority Takes a Serious Stance on Cybersecurity

The Superintendence of Banks, Insurance Companies, and Private Pension Fund Administrators (SBS) has taken a serious stance on information security and has been actively working to strengthen it over the past decade. The SBS has implemented a five-pillar roadmap aimed at improving cybersecurity in Peru’s financial sector.

Prioritizing Cybersecurity: A Secure Future for All Stakeholders

As cyber threats continue to evolve, Peru’s financial institutions must prioritize cybersecurity and invest in measures that will safeguard their systems and protect their customers’ sensitive information. With the SBS’s guidance and support, the country’s financial sector is well-positioned to address these challenges head-on and ensure a secure future for all stakeholders involved.