Mexico emerges as top target for cybercrime in Latin America

While cyber threats are growing across Latin America, Mexico faces an outsised share, largely due to its close economic relationship with the United States and its booming industries.

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Mexico has become the focal point for cybercrime in Latin America, accounting for over 50% of all reported cyber threats in the region during the first half of 2024, according to a study by cybersecurity firm Fortinet. With 31 billion cybercrime attempts, hackers are taking advantage of Mexico’s strategic ties with the US and booming industries like logistics and manufacturing, which are being targeted for larger ransom payouts.

Fortinet’s report highlighted how cybercriminals are using advanced tools, such as AI, to streamline attacks and focus on specific sectors for maximum impact. The rapid shift of production closer to the US, known as nearshoring, has made Mexico’s electronics and automotive industries prime targets. Despite a slight dip in attack numbers compared to last year, the overall threat level remains significant.

Experts, including Fortinet executives, emphasised the need for Mexico to strengthen its cybersecurity laws. While President Claudia Sheinbaum has pledged to establish a cybersecurity and AI center, there has been no mention of legal measures yet. Cybersecurity professionals warn that urgent action is needed as Mexico’s role in global supply chains continues to grow.