Staying Ahead of Cyber Threats: Mastercard Survey Reveals Emerging Concerns Among Consumers in Latin America and the Caribbean

Mastercard has released the findings of its latest regional survey focused on cybersecurity sentiment across Latin America and the Caribbean. It reveals that as digital payments become mainstream, and convenience grows, a new paradox is emerging across the region: while consumers are becoming increasingly confident in their ability to navigate the digital world, fear of fraud and scams remains their most pressing concern.

According to a recent regional survey, eight in ten Latin Americans (80%) say they feel capable of protecting themselves online — a clear indicator of the region’s growing digital maturity. Yet, nearly half (47%) identify fraud and scams as their biggest frustration when making digital transactions, highlighting a critical tension between confidence and caution in an era of expanding financial inclusion.

“As the region continues its digital transformation journey, people live in a dual reality — they are confident, digitally savvy, and open to innovation, but also aware that scams are becoming more sophisticated,” said Ana Lucia Magliano, Executive Vice President, Services, Mastercard Latin America and the Caribbean. “This data reinforces the collective opportunity to close the trust gap with solutions that help organizations and consumers stay ahead of threats.”

To protect people in the digital space, Mastercard goes beyond securing transactions to safeguarding every digital interaction. The company leverages artificial intelligence, advanced analytics, and behavioral modeling to anticipate and prevent cyber threats before they occur — backed by a $11 billion investment in cybersecurity over the past five years. Mastercard recently launched Mastercard Threat Intelligence – the first solution of its kind to apply threat intelligence at scale across the payments ecosystem, enabling banks to detect and respond to emerging threats before fraud occurs.

Digital Confidence Meets Caution

Consumers’ engagement with digital finance has surged across the region, with debit cards (89%) and credit cards (84%) now dominating daily transactions. Newer payment technologies are also on the rise — real-time transfers (79%) and digital wallets (74%) are quickly gaining traction as consumers embrace speed and convenience.

But this same momentum has brought new anxieties. Beyond fraud and scams, privacy concerns (32%) related to how personal or financial data is used or shared, continue to unsettle users. The emergence of AI-driven fraud, including deepfakes and voice cloning, is particularly alarming — cited by 43% of respondents as an emerging threat that is reshaping perceptions of safety in digital spaces.

The New Face of Fraud

Traditional schemes are evolving fast. Phone and voice scams remain the most common type of fraud in Latin America (32%), followed closely by social media and phishing attacks. These tactics, increasingly powered by advanced technologies, have made it harder for even the most tech-savvy consumers to distinguish what is real from what is fake, fueling both vigilance and frustration.

Trust and Transparency are keys to Digital Growth

The data also underscores the importance of trust in sustaining digital adoption. Banks (89%) and payment networks such as Mastercard (82%) emerged as the most trusted institutions for keeping money and data safe. This trust forms a crucial foundation for continued digital growth in a region where inclusion and innovation are reshaping how people pay and get paid.

Consumers also voiced clear preferences for features that enhance their sense of security:

• Proactive alerts and monitoring tools (59%)
• Clear fraud protection and reimbursement policies (57%)
• Stronger authentication methods such as biometrics or passkeys (53%)

These expectations reveal an industry opportunity: to combine education, transparency, and intuitive security design that empower consumers while maintaining the region’s digital momentum.

Linking Innovation and Safety

Even as threats evolve, optimism remains high. More than half of consumers say they’re most excited about faster, simpler payments (51%) and safer online checkout enabled by biometrics and tokenization (31%), innovations that blend convenience with trust.

“These findings show that the digital economy will continue to accelerate when we make trust and security inseparable from innovation,” added Magliano. “People want safety they can see — like alerts or biometrics — backed by strong, invisible protections that work behind the scenes.”

At the annual Mastercard Innovation Forum this December, Mastercard explores how it is securing the digital ecosystem with Mastercard Threat Intelligence as well as other solutions helping businesses grow, digitize, and protect their business. Read about Mastercard’s full line-up of activity at the conference here.

Scope and methodology of research

The study was led by Mastercard and conducted by the independent research agency Many Minds Group. In October 2025, a quantitative online survey was carried out among 3,577 adults across 12 Latin American and Caribbean countries: Argentina, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, Guatemala, Mexico, Panama, Peru, and Puerto Rico. The sample included banked consumers who had made e-commerce purchases or used online banking in the past six months, representing the general online population aged 18 to 65.

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