According to a survey by cybersecurity firm Fortinet, Mexico has emerged as the epicentre for cybercrime in Latin America, accounting for almost 50% of all reported cyber threats in the area during the first half of 2024. Hackers are taking advantage of Mexico’s key connections with the US and growing sectors like manufacturing and logistics, which are being targeted for higher ransom payments, with 31 billion attempts at cybercrime.
According to Fortinet’s analysis, fraudsters are employing cutting-edge technologies like artificial intelligence (AI) to target particular industries and concentrate their attacks for maximum effect. The fast-moving practice of “nearshoring,” or moving production closer to the US, has made Mexico’s automobile and electronics sectors attractive targets. Even though there have been fewer attacks this year than there were the previous, the threat level is still high overall.
Experts underlined that Mexico needs to improve its cybersecurity legislation, including executives from Fortinet. Although President Claudia Sheinbaum has promised to create a cybersecurity and artificial intelligence centre, no legislative actions have been mentioned as of yet. Experts in cybersecurity caution that since Mexico plays an increasingly significant role in international supply chains, immediate action is required.
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