Crime Rate Surges in Mexico, Fraud and Kidnappings on the Rise

  • Common crime in Mexico increased in 2023 compared to 2022
  • 27.5% of households experienced a crime last year
  • 31.1 million crimes committed against 21.9 million people
  • Fraud was the most frequent crime
  • Crime rate rose to 23,323 victims per 100,000 inhabitants
  • Kidnappings for ransom increased to 89,000 from 80,000 in 2022
  • Economic cost of crime equivalent to 1.15% of GDP
  • Only 10.4% of crimes reported to authorities

A recent survey by Inegi revealed that common crime in Mexico has increased significantly in 2023 compared to the previous year. The number of households affected by crime rose to 27.5%, with a total of 31.1 million crimes committed against 21.9 million people. Fraud was the most frequent crime, followed by street robbery and public transport robberies, extortion, and car theft. The crime rate increased to 23,323 victims per 100,000 inhabitants from 22,587 in 2022. Kidnappings for ransom also rose to an estimated 89,000 last year from 80,000 in 2022. The economic impact of crime on victims and households amounted to 1.15% of GDP. However, only 10.4% of crimes were reported to authorities, with the majority going unreported or unsolved.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the increase in common crime in Mexico based on statistics from the annual victimization survey conducted by Inegi. It includes relevant details such as the most frequent crimes, the economic cost of crime, and reasons for not reporting crimes. However, it lacks personal perspective or sensationalism.
Noise Level: 3
Noise Justification: The article provides relevant information about an increase in common crime in Mexico and some specific details such as the most frequent crimes and reasons for not reporting them. However, it lacks analysis or exploration of underlying causes, consequences, or potential solutions.
Key People: Anthony Harrup (Author)

Financial Relevance: Yes
Financial Markets Impacted: The economic cost of crime is equivalent to 1.15% of GDP
Financial Rating Justification: The article discusses the increase in common crime in Mexico, its impact on victims and households, and the economic cost of crime which affects the country’s GDP.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: While there is an increase in crime rates and kidnappings, it does not meet the criteria for an extreme event as it did not happen within the last 48 hours and is not a major disaster or crisis.
Move Size: No market move size mentioned.
Sector: All
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

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