Financial Crime World

Cybercrime Threat Spreads in Peru and Costa Rica

A sophisticated cybercrime organization based in Russia has left both Peru and Costa Rica on high alert after launching devastating attacks on government agencies and public platforms. The Conti group, one of the largest ransomware gangs in the world, is suspected of carrying out the attacks.

The Attacks

  • In Costa Rica, the Ministry of Finance was severely affected, with hackers extracting 1TB of internal data and demanding a $10 million ransom to return the files.
  • The Costa Rican government declared a state of national emergency in May after the attack, citing a lack of control over hacked government entities.
  • The US government offered a reward of up to $15 million for information leading to the identification of Conti group members.

Economic Impact

  • The Chamber of Foreign Trade estimates that the fall in customs systems has generated losses of over $200 million.
  • The attack on the Administrative Board of the Cartago Electricity Service (JASEC) paralyzed the system that manages electricity supply to about 160,000 people in the city located southeast of the capital San José.

Peru Also Targeted

  • Hackers uploaded files on their dark website with evidence that they have valuable information in their possession, claiming that they have access to critical infrastructure, including water and electricity networks.
  • The threat is latent in Latin America, whose governments will have to be vigilant and reinforce their cybersecurity measures to prevent cyberattacks.

About the Conti Group

The Conti group is a Russian-based ransomware gang first detected in 2019. They are considered one of the most active cybercriminal groups in 2021 and have carried out several high-profile attacks, including on Ireland’s healthcare system and 22 US healthcare institutions.

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