The sophisticated strategies of bank fraudsters to steal money from account holders in Mexico

María saw how her savings and her pension slipped out of her hands in 15 minutes. She was the victim of bank fraud. Wanting to take more, the scammers decided to leave Maria credit debt in her name. Within a few hours, she lost more than 200,000 pesos, or around $10,000 dollars. Just for answering a call.

“They told me that I had some transactions that I needed to verify, they spoke to me by my full name, they gave me various information, everything seemed very real,” says the 60-year-old woman. “I did not have the bank application installed on this phone, they were the ones who downloaded it as if it were me, they emptied my accounts and took out several credits,” she recalls. Although she has already formally proceeded with a complaint with her bank and before the National Commission for the Protection and Defense of Users of Financial Services (Condusef), six weeks have passed and she has had no response.

Bank fraud is an ordeal experienced every day by users of financial services in the country. However, fraud through banking applications is a crime that is growing alarmingly in Mexico. This week, a case of theft with this method went viral on social networks. The actress Verónica Bravo denounced on her Twitter account that she was robbed of her savings by losing her cell phone. “They did not steal my card, nor my wallet, only my cell phone and I did not have the passwords saved, I did not have a photo of my INE, I had absolutely nothing, however, those who stole my cell phone were able to access my BBVA Bancomer application and they stole all my money”, she exposes in a video.

Her case has become a trend on social networks since the weekend and continues to be at the center of the debate until now. There are two possible paths to committing fraud through bank mobile applications: when the user delivers, through trickery or other means, their personal data or passwords, or when the user does not participate directly, but in the end becomes a victim of theft.

In the case of Maria, it was part of a fraud that can be called “traditional”, as explained in an interview by Óscar Rosado, president of the Condusef.

“In the pandemic, fraud moved from face-to-face to remote, through applications where they pretend to be financial institutions, put data and names that lead to user error, obtain data via applications or by telephone that are then used,” he says.

This crime is growing as fast as technology itself. Between 2020 and 2021, virtual robberies of mobile banking users have grown more than 52% with 16,036 complaints in 2020 compared to 24,442 filed in 2021. Although complaints have slowed down, they maintain growth in the first half of 2022 of 5.8% according to the latest data from Condusef.

The modus operandi of fraudsters is simple but very efficient. They pose as a bank executive, give personal details and the last four digits of a card obtained illegally through databases obtained on the black market. “There are mechanisms for purging and using algorithms so that these databases, even if they come from a commercial world, can be useful for using social engineering in the financial world,” says Rosado. They then start asking questions and invite the user to open their app, perform specific tasks or give other data.

In this way, first by phone or through text messages or WhatsApp , fraudsters can have remote access to the user’s mobile application. For Maria who was not a regular user of her mobile app, that spelled bankruptcy for her. “The one who spoke to me seemed like a bank employee, he told me exactly what things to do, where to look. Then I found out that that’s why they were able to enter as if it were me from another phone”, she said.

However, the level of security of banking applications continues to give bank customers much to be desired, who often are not a conscious part of the embezzlement, as in the case of actress Bravo, who only lost her cell phone.

According to the report “Mobile banking robberies: The global economic threat”, by the cybersecurity firm Zimperium, the BBVA Mexico application, with more than 10 million downloads, is one of the applications most attacked by cybercriminals in the world.

Although there may be user participation in these embezzlements, many of the applications suffer from vulnerabilities. The analysis “Vulnerabilities and threats in mobile banking ” prepared by Positive Technologies, reports that at least half of the banks worldwide have some flaw in their security levels, and 76% of all these problems could be exploited by scammers without the need for physical access to the device.

While financial institutions make adjustments to their mobile systems, the director of Condusef advises bank users to avoid falling for false calls, messages, or emails.

María saw how her savings and her pension slipped out of her hands in 15 minutes. She was the victim of bank fraud . . .

Follow Us On Google News | Get Our Newsletter



Trending News on PVDN

  • Where do foreigners come from and where do they live in MexicoMexico City Protest on July 5 Challenges Gentrification and Airbnb’s Impact on Housing Residents of Roma and Condesa will gather at Parque México on July 5 to protest gentrification, rising rents, and Airbnb’s effect on local housing. This Saturday, July 5, Mexico City will witness its first organized citizen protest against gentrification—a peaceful but urgent gathering taking place at 3:30 p.m. at the Lindbergh Forum in Parque México,…
  • raw-sewage-playa-los-muertos-puerto-vallartaMore Raw Sewage Dumping at Playa Los Muertos Appear to Come From Local Hotel Business owners in Puerto Vallarta are demanding action after raw sewage was discovered leaking onto Playa Los Muertos, raising public health and tourism concerns. A raw sewage leak at Playa Los Muertos in Puerto Vallarta has sparked outrage among local tourist service providers and business owners, who say the contamination is driving away visitors and…
  • puerto-vallarta-rainfall-hurricane-flossie-july-2025Puerto Vallarta braces for torrential rains as Hurricane Flossie gains strength Puerto Vallarta faces a high risk of flooding as Hurricane Flossie intensifies in the Pacific. Torrential rains and overwhelmed drainage systems pose major challenges for the city. Puerto Vallarta, a city wedged between the Sierra Madre mountains and the Pacific Ocean, is no stranger to dramatic weather shifts—but this summer, the skies are testing the…
  • puerto vallarta lettersPuerto Vallarta needs a new image to create meaningful reasons for travelers to visit Business leaders at Jalisco Tourism Secretariat forums stressed the need for renewing Puerto Vallarta image and diversifying attractions to appeal to national and international markets. Local business leaders and tourism specialists agreed this week that Puerto Vallarta needs a fresh look and a broader range of attractions to compete at home and abroad. In a…
  • protests3Mexico City Protests: There is a fine line between anti-gentrification and xenophobia The line between anti-gentrification and racism is clear if you choose to see it: genuine activism targets policy and practice, not nationality or ethnicity. I have lived in Mexico for two decades, and I have never witnessed the level of anti-American sentiment that exists today. All of it is tied to the buzzword "gentrification," a…
  • José Luis Velázquez RodríguezSEAPAL Official Reported Missing in Puerto Vallarta Authorities in Puerto Vallarta have launched a search for José Luis Velázquez Rodríguez, SEAPAL's head of transparency, who has been missing since June 30. Family and officials are urging the public to report any information. Local authorities and civil protection units have launched a search operation for José Luis Velázquez Rodríguez, head of the Transparency…
  • puerto-vallarta-police-chase-bahia-de-banderasPuerto Vallarta police chase ends in deadly collision in Bahía de Banderas A Puerto Vallarta police chase along Highway 200 ended in a deadly collision in Bahía de Banderas, leaving two people dead. A high-speed chase that began in Puerto Vallarta, Jalisco, and ended in Bahía de Banderas, Nayarit, left at least two people dead and raised new questions about police engagement and road safety in the…
  • mexico city real estateGentrification in Mexico City is not the reason for the high cost of housing City housing shortage, not gentrification, drives prices skyward as planning lags behind demand and foreigner influence remains minimal. High real estate costs in Mexico City stem from a deep and persistent housing shortage—exacerbated by land constraints, tangled regulations and speculative investment—rather than by the presence of foreign residents. Despite headlines blaming “gentrification,” foreign-born residents make…
  • protestProtest graffiti and smashed windows mars anti-gentrification rally in Mexico City Residents and activists joined an anti-gentrification rally in Mexico Park, but the anti-gentrification rally Mexico Park turned destructive as masked youths defaced local shops and broke windows. A rally against gentrification held yesterday in Mexico City’s Parque México drew residents from Juárez, Roma, Condesa and Hipódromo alongside local activists. Organizers billed it as the city’s…
  • no-damage-jalisco-hurricane-flossieNo Damage Reported in Jalisco as Hurricane Flossie Moves Away While Mexico's Weather Service predicted heavy rains, Hurricane Flossie causes no damage along Jalisco’s coast. The Category 3 storm brings light rain and moderate waves as it moves away from the region. The coasts of Jalisco remain calm and largely unaffected following the passage of Hurricane Flossie, a powerful Category 3 storm that is now…
Scroll to Top