Panama’s Ministry of Economy and Finance (MEF) has confirmed that one of its computers may have been compromised in a recent cybersecurity incident. The ministry stated that it has activated established security protocols and contained the intrusion before it could spread to core systems.
Ministry Confirms Security Incident and Containment
In an official statement, MEF disclosed:
“The Ministry of Economy and Finance informs the public that today an incident involving possible malicious software was detected on one of the Ministry’s workstations. The established security protocols were immediately activated, and preventive measures across the entire IT system were reinforced to contain the intrusion.”
Officials emphasized that the ministry’s central platforms remain operational and were not affected by the attack. MEF added that both personal and institutional data are secure and that additional preventive measures have been implemented to mitigate future risks.
INC Ransom Claims Responsibility and Leaks Data
Despite the government’s assurance, the INC Ransom gang has claimed responsibility for breaching MEF systems. In a post published on its data leak site on September 5, the group alleged that it stole a large volume of financial and internal documents, including emails, budgeting details, and other sensitive files.
The ransomware group also published a set of leaked internal documents as proof of compromise. At the time of reporting, MEF has not confirmed or denied the validity of INC Ransom’s claims.
Background on INC Ransom
INC Ransom operates as a ransomware-as-a-service (RaaS) group and has been active since mid-2023. The gang has previously targeted high-profile victims including:
- Yamaha Motor
- Xerox Business Solutions
- Scotland’s National Health Service (NHS)
- McLaren Health Care
- The Texas State Bar
- Ahold Delhaize
In May 2024, a hacker known as “salfetka” claimed on a Russian-speaking forum that they possessed INC Ransom’s source code and offered to sell it for $300,000.
MEF’s Role and National Significance
Panama’s MEF plays a critical role in the country’s financial stability. It manages fiscal policy, public spending, debt management, and most importantly, Panama Canal revenues, which represent the nation’s largest source of income. Any breach involving the ministry raises concerns about potential risks to financial and operational data that are central to national interests.
