Cyber Espionage and Financial Threats Targeting Mexico
Mandiant and Google’s Threat Analysis Group (TAG) released a joint report providing critical insights into the cyber threat landscape impacting Mexico. This report uncovers the ongoing cyber espionage operations and financially motivated cyber attacks aimed at Mexican users and enterprises.
Introduction
On September 10, 2024, Mandiant and Google’s Threat Analysis Group (TAG) released a joint report providing critical insights into the cyber threat landscape impacting Mexico. This report uncovers the ongoing cyber espionage operations and financially motivated cyber attacks aimed at Mexican users and enterprises. The analysis highlights threats from global actors, including China, North Korea, and Russia, as well as local threats, emphasizing the complexity of Mexico’s cybersecurity challenges.
Report Overview
Cyber espionage actors from over ten countries have targeted Mexico since 2020, with more than 77% of government-backed phishing activities originating from China, North Korea, and Russia. Mexico’s digital infrastructure, which supports the world’s 12th largest economy, has made it an attractive target for both cyber criminals and state-sponsored groups.
PRC Cyber Espionage Activity Targeting Mexico:
Chinese government-backed cyber actors have been active in Mexico since 2020, with seven distinct groups responsible for one-third of the nation’s phishing activity. These efforts are focused on Mexican government agencies, higher education institutions, and news outlets. The activity aligns with China’s broader foreign policy, particularly in regions where it has economic interests, such as countries involved in China’s Belt and Road Initiative.
North Korean and Russian Cyber Espionage:
North Korean actors have also targeted Mexican financial institutions and cryptocurrency firms, accounting for 18% of the phishing activity. Notably, there is a growing concern regarding North Korean nationals securing IT roles globally, raising potential insider threat risks for Mexican companies. Russia’s cyber operations, although recently reduced due to the war in Ukraine, previously accounted for nearly one-fifth of the attacks, mainly through the activities of the APT28 group.
Espionage and Commercial Surveillance:
In addition to espionage, Mexico is vulnerable to surveillance campaigns that exploit commercial spyware targeting high-risk individuals, such as journalists and activists. TAG’s research shows that spyware is increasingly being used in Mexican society, affecting civil liberties and threatening democratic processes.
Cyber Crime Targeting Mexican Enterprises:
Financially motivated cybercrime continues to be a prevalent threat in Mexico, with ransomware, cryptomining, and banking credential theft being the most common. Initial access brokers have sold compromised access to extortion groups, leading to large-scale ransomware attacks on Mexican organizations. Threat actors, such as those behind banking trojans like METAMORFO and JanelaRAT, focus on quick profit operations targeting payment systems and financial accounts.
Insights and Analysis
Government Service Impersonation and Malware:
Mandiant has tracked UNC4984, a threat actor that uses malicious browser extensions and phishing campaigns masquerading as government services to distribute malware in Mexico. These campaigns target Mexican bank users by spoofing websites like the Mexican Tax Administration Service (SAT). The malware is distributed through email lures and malicious advertisements, further increasing the risks to businesses and users.
Mexican enterprises and users must adopt proactive cybersecurity measures to mitigate these threats. Google offers Enhanced Safe Browsing and recommends regular device updates for high-risk users. For enterprises, implementing comprehensive ransomware protection strategies and investing in strong endpoint security are critical.
Mexico faces a diverse array of threats from both cyber espionage and financially motivated groups. To defend against these persistent threats, organizations must remain vigilant, adopting a layered security approach and staying informed about the evolving threat landscape. Collaboration between cybersecurity experts and organizations will be essential in strengthening Mexico’s resilience against these cyber threats.
Indicators of Compromise (IOC)
No specific Indicators of Compromise (IOCs) were provided in the source material.
MITRE ATT&CK Table
| Tactic | Technique | ID | Description |
|---|---|---|---|
| Initial Access | Phishing | T1566 | Use of phishing to gain initial access to systems. |
| Persistence | Browser Extensions | T1176 | Malicious browser extensions used for persistence. |
| Defense Evasion | Masquerading | T1036 | Threat actors spoof legitimate services to distribute malware. |
References
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