Finnish data erasure and computer reuse solutions provider Blancco has expanded into Mexico and opened a subsidiary in the country, according to a press release from the company.
Marco Flores, managing director for Blancco's operations in Mexico, said the company is ready to quickly expand its market presence throughout the country, where Blancco sees growing demand from corporations and financial institutions for tighter data erasure policies.
Blancco's expansion comes after new data protection regulations were passed in Mexico, forcing companies to establish adequate IT asset disposal policies to avoid fines or penalties.
Mexico's new data protection law will come into effect in July. The law outlines possible criminal prosecution and fines for violators and those responsible for security breaches.
However, Flores said that despite the legislation, many companies fail to realize they could be breaking the law if they do not implement proper data erasure policies. According to Flores, most companies in the country have yet to respond to the law's requirements, which he said leaves them vulnerable to costly data breaches due to fines and damaged reputations.
Blancco's customers in Mexico currently include local banks Banco Compartamos and Grupo Financiero Multiva and CSI Leasing Mexico, with its main partner being IT systems integrator and wholesaler Avnet Partner Solutions. The company works with banking, finance, government and defense sectors, operating through offices and partners across Europe, North America, Asia and Australia.