Mexico's National Commission for the Protection and Defence of Financial Services Users (CONDUSEF) issued an alert describing how fraudsters impersonate legitimate financial institutions to deceive users of financial services, particularly by offering credit and then requesting personal data and advance payments. The alert notes that scammers misuse institutions’ trade names, corporate names and logos with minor alterations across printed materials and digital channels such as websites, social media and mobile apps, and contact victims via WhatsApp or text messages to solicit personal information. They then demand cash or deposits to bank accounts not belonging to the purported institution, presented as credit processing costs, advance instalments, opening fees or guarantee deposits, typically around 10% of the requested loan and ranging from MXN 1,000 to MXN 200,000, after which they become unreachable. CONDUSEF recommends verifying that a provider is registered in its System of Registration of Financial Services Providers (SIPRES), refusing any request for money before a loan is granted, limiting the sharing of sensitive data and transactions via social networks or messaging apps, reviewing contract documents carefully, and using official, secure websites; it also flags emerging digital fraud schemes such as “monta deudas”.
CONDUSEF 2025-01-23
Mexico's National Commission for the Protection and Defence of Financial Services Users warns that impersonators use lookalike branding and demand upfront loan fees
Mexico's CONDUSEF warned of fraudsters posing as financial institutions to deceive users by offering credit and requesting personal data and advance payments. Scammers misuse institutions’ names and logos, contact victims digitally, and demand payments as credit processing costs. CONDUSEF advises verifying providers through its registration system, refusing pre-loan payments, and using secure websites to avoid scams.