Uruguay’s BHU Spent $12M After Cyberattack

Officials at the Banco Hipotecario del Uruguay said the cyberattack that hit the bank in September last year resulted in $12 million in spending on remediation and systems rebuilding. They also confirmed that no ransom was paid.

The disclosure places the attack within a broader set of incidents that force organizations across the region to spell out how much it costs to get back online after a breach. In this case, the state-owned Uruguayan bank said the money went to remediation and systems reconstruction, with no compensation to the attackers.

At the same time, a report on ransomware in Brazil says the country accounts for 51% of attacks against the sector, according to the material available in the result. That figure, attributed by the source and not yet officially confirmed in the material provided, adds to the pressure on financial institutions and public agencies across Latin America, where attacks do not only disrupt services but also leave steep recovery bills.

The BHU case offers a concrete reference point for that cost. While some organizations choose not to pay ransoms and instead carry out internal restoration, the economic impact still shows up in remediation, reconstruction and operational continuity spending.