GASA Scams Report: Mexico

Mexico Loses 293B MXN to Scams Each Year

Mexico currently bears the unfortunate distinction of suffering from one of the most devastating fraud rates in the world. A new survey from Feedzai and the Global Anti-Scam Alliance (GASA) sheds new light on the scope of Mexico’s scam epidemic.

Identity theft is one of the most common types of fraud in Mexico. Fraudsters may obtain a victim’s identity from scamming directly. They might also pressure a victim to act on their behalf by pretending to be a bank employee or member of law enforcement. Fraudsters could also connect with victims on social media or exploit them through malware attacks, which have surged in the past year. Other types of scams, including extortion, investment, and employment scam typologies, are also rising sharply.

Feedzai’s new report, produced in partnership with GASA surveyed 1,308 Mexican bank customers about their experience with scams. The results bring Mexico’s scam challenges into sharp focus. Among the report’s findings:

• 59% of Mexicans encounter at least one scam per month
• 58% of respondents said their experience resulted in a strong or very strong emotional impact
• Only 6% of respondents were able to recover all of the money lost to a scam

Download the report to learn more.