Concerns About ATM Security: 76% of Mexicans Feel Vulnerable
05:00 30/09/2024 - PesoMXN.com
According to the 2023 National Survey on Victimization and Perception of Public Safety (ENVIPE) conducted by INEGI, ATMs in public spaces, public transportation, and banking institutions are the top three areas where Mexicans experience the greatest sense of insecurity. In particular, 75.6% of the population feels unsafe using ATMs in public, with this percentage significantly higher among women. This figure represents a slight decrease from the 78.6% reported in the 2022 survey.
Breaking down the data, 81.8% of women report feeling unsafe when using ATMs outside, compared to 68.9% of men who share this concern. As of July, there were a total of 63,622 ATMs and 11,825 bank branches in the country, according to the National Banking and Securities Commission (CNBV). During the same month, 194.5 million transactions were conducted, with 12.6% occurring in Mexico City and 12.3% in the State of Mexico, based on regulator data. Additionally, the Bank of Mexico (Banxico) reported that as of March, there were 65,730 ATMs, of which 54.6% were located outside bank branches. The ENVIPE also highlights that individuals with a basic education feel the most insecurity, particularly those aged between 30 and 59. This perception of insecurity has prompted some financial institutions, including banks and insurance companies, to offer insurance for ATM withdrawals. Among the entities providing this type of insurance are BanCoppel, BBVA, Citibanamex, HSBC, and Scotiabank, covering thefts ranging from 10,000 to 20,000 pesos.
Insecurity at Bank Branches
In the case of bank branches, 62.7% of Mexicans report feeling insecure, especially those with a basic education. This percentage has also decreased from the 65.7% reported in the previous year’s survey.
The growing concern about security at ATMs and banks highlights a trend that not only affects public perception but also influences people's financial behavior. As insecurity remains a priority issue, it is essential for banks to implement more robust security measures and for users to stay informed about available insurance options to protect their assets in case of theft or emergencies. Financial education also plays a key role, as understanding how these insurance policies work can help citizens make safer decisions in their daily transactions.
