MEXICO Law and Practice Contributed by: Lizette Neme, Andrea López-Malo, Shannon Reilly, Rodolfo Flores and Dunia Salum, Áurea Partners
12.3 Responsibility for Losses A fintech service provider in Mexico may be held responsible for customer losses depending on the specific circumstances of the loss and the provider’s conduct. Liability may arise where losses result from: • negligence or failure to implement adequate secu - rity or fraud prevention measures; • system failures or operational deficiencies; • breach of applicable regulatory obligations; and • unauthorised transactions attributable to inade - quate authentication, monitoring or internal con - trols. The extent of liability is determined by financial regula - tions, consumer protection laws, and, where relevant, contractual arrangements with customers. Regulatory authorities such as the CNBV, Banxico and CON - DUSEF may impose administrative sanctions, resti - tution obligations, or corrective measures. Conversely, fintech providers may limit or exclude liability where losses are attributable to customer misconduct, third-party actions beyond the provider’s control, or compliance with regulatory instructions, subject to mandatory consumer protection standards and public policy considerations.
implementing robust systems and procedures to identify, monitor, and mitigate potential fraud risks. The new framework also places particular empha - sis on internal fraud and insider threats by requiring enhanced segregation of duties, surveillance mecha -
nisms, and internal reporting processes. 12.2 Areas of Regulatory Focus
Mexican regulators focus primarily on fraud schemes that pose systemic risk, threaten consumer protec - tion, or facilitate money laundering or other financial crimes, with increasing attention on technology-ena - bled and cyber-related fraud. Key areas of concern include identity theft and account takeover, unauthorised and socially engineered elec - tronic payments (including authorised push-payment fraud), cyber fraud such as phishing and credential compromise, and investment or crowdfunding mis - conduct. Authorities such as the CNBV and the Finan - cial Intelligence Unit (UIF) require financial institutions and fintech providers to implement robust KYC, strong customer authentication, transaction monitoring, and reporting controls, particularly in digital onboarding and automated transaction environments. Please see 12.1 Elements of Fraud .
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