Cyber fraud increases to 42% over six yearsCancun Financial Mexico 

Cyber fraud now 42 percent of all claims

Cancun, Q.R. – According to government statistics, digital fraud in Mexico represents 664 million peso in losses already this year.

Condusef (Comisión Nacional para la Defensa de los Usuarios de las Instituciones Financieras) warned of this crime growth noting it has gone from 7 percent to 42 percent over the past six years.

Condusef says that in the fourth quarter of this year, digital cyber fraud already represented 664 million pesos in losses to bank users.

Mario Di Constanzo, president of Condusef, explained that of the one 1.5 million fraud claims registered during the first quarter of the year, 42 percent were made through cyber operations. He says that the growth of this crime, which in 2011 represented only 7 percent of all claims, now accounts for 42 percent of total complaints of fraud.

He added that 91 percent of bank users who filed cyber fraud claims reported being victims in e-commerce operations, followed by individual Internet operations followed by mobile banking, and then corporate Internet operations and mobile payments.

Banks with the highest number of cyber fraud complaints are CitiBanamex with 28 percent, Santander with 22 percent, BBVA Bancomer and Banorte IXE both with 19 percent, and Banco Inbursa and Azteca with 3 percent per institution.

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