Mexico bolsters financial security ahead of 2026 World Cup to combat fraud

Financial institutions in Mexico are bolstering their security operations to combat a surge in identity theft and phone-related fraud, a critical move as the country prepares to co-host the 2026 World Cup. These enhanced controls aim to protect users from significant financial losses should they fall victim to cybercrime.

Data from the National Commission for the Protection and Defense of Financial Users (Condusef) reveals a stark increase in fintech-related fraud. By the end of 2025, over 13,869 claims were filed for potential fraud within the fintech sector, amounting to approximately 120 million pesos. Identity theft cases within fintech companies totaled 515, with claims reaching nearly 6 million pesos.

Adding to the concern, an estimated 2.2 million devices are stolen or lost annually in Mexico, according to The Competitive Intelligence Unit. Despite cash still dominating many daily transactions, a significant 70% of the population utilizes financial apps for transfers, payments, and balance inquiries, facilitated by over 144 million active mobile lines in the country.

In anticipation of the 2026 World Cup, which will feature 13 matches in Mexico, Mercado Pago is introducing a new security feature called "Modo blindado" (shielded mode). This function automatically activates enhanced protection when a user's device is outside pre-defined secure locations, such as home or office. It restricts certain operations and safeguards financial information within the app, operating based on registered Wi-Fi networks as trusted environments. Once the device reconnects to a recognized network, normal functions are restored. Ramiro Nández, Mercado Pago Mexico's director of users, stated that this feature has already been successfully implemented in Brazil.

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this additional shielding already operates in countries like Brazil, where it was launched during Carnival 2026, having a good reception.