Online Safety and Economic Impact for Latino Consumers and Businesses

Have you noticed an increase in spam emails that ask you to click on a link? Be cautious! 

In today’s digital world, securing your online presence is as vital as locking your home or business. From social media to email, e-commerce, and digital banking, cybercriminals are targeting both individuals and businesses—particularly in communities that are expanding their digital footprint rapidly. Latino consumers and business owners are often on the front lines of this risk, facing both unique vulnerabilities and disproportionate economic impacts.

Common Online Scams to Watch For

Phishing Emails
Fraudulent messages that mimic trusted sources (banks, delivery services, etc.) to steal your information.
Source: FBI IC3

Business Email Compromise (BEC)
Scammers pose as vendors or executives to trick employees into wiring money or revealing confidential info.
Estimated losses: $2.9 billion+ in 2023
Source: FBI IC3 2023 Internet Crime Report

Tech Support Scams
Pop-up warnings or cold calls claiming your device is infected, urging you to pay for “support.”

Fake Retail Websites
Scammers set up realistic-looking online stores to steal payment info or sell counterfeit goods.
Source: FTC Shopping Safety

What to Do If You’re Hacked

• Change all passwords (email, banking, social accounts).
• Turn on two-factor authentication.
• Run antivirus and malware scans.
• Notify your bank and other relevant institutions.
• Monitor all accounts and credit activity closely.

Need help? Visit: www.identitytheft.gov

Best Practices for Internet Safety

Individuals

• Use a password manager and strong, unique passwords.
• Update devices and software regularly.
• Avoid public Wi-Fi for financial tasks.
• Think before clicking—hover over links to check the destination.

Businesses

• Train employees in cybersecurity awareness.
• Use secure firewalls and spam filters.
• Limit data access by job roles.
• Back up data routinely.
• Prepare a cyber incident response plan.

Source: CISA.gov

Economic Impact on Latino Communities

Consumers

Latino adults in the U.S. are more than twice as likely as white consumers to report financial losses from digital scams.
13% of Latino adults report losses vs. 6% of white adults
Source: Consumer Reports, 2024

Vulnerable payment methods: Cash apps, money orders, and debit cards offer less fraud protection.

Underreporting: Fraud is often underreported, limiting outreach and support.
 Source: Texas Standard

Businesses (Especially in Latin America)

Companies face a 97% higher fraud rate than in North America and 222% higher than in Asia-Pacific.
Source: Stripe Online Fraud Report

Up to 20% of revenue is lost to fraud in Latin American eCommerce sectors.
Source: Radial.com

In Mexico, every peso lost to fraud costs 4.08 pesos in total (detection, recovery, prevention).
Source: LexisNexis Risk Report

Why the Disparity?

• Rapid digital growth in Latino markets often outpaces cybersecurity awareness.
• Instant payment systems like Brazil’s Pix are more vulnerable to push scams.
• Limited access to financial education and cyber tools in marginalized communities.

Recommendations

• Consumer Education: Launch awareness campaigns tailored to Latino communities.
• Stronger Payment Protections: Promote the use of credit cards with fraud protections.
• Invest in Cybersecurity: Small businesses should adopt fraud prevention tools.
• Supportive Policy: Push for stronger protections and resources for minority-owned businesses.

Cybersecurity is no longer optional—it’s an essential part of doing business and living life online. Latino consumers and businesses can reduce risk and protect their futures with the right tools, habits, and awareness. Let’s make digital safety part of our everyday culture.