Afore XXI Banorte warns of rising social media fraud targeting retirement accounts

Afore XXI Banorte urges workers to avoid unauthorised third-party handling of retirement paperwork amid increasing social media scams offering false incentives for quick withdrawals and contributions, highlighting the importance of official channels to protect assets and personal data.

Afore XXI Banorte has warned workers not to let third parties handle retirement-account paperwork after detecting a rise in fraud carried out through social media and messaging apps, where impostors offer supposed fast-track withdrawals, extra contribution weeks or quicker processing in exchange for payment. According to the company, these schemes put savers’ assets and personal data at risk.

David Razú, chief executive of Afore XXI Banorte, said no retirement-system procedure carries a fee and that nobody should charge for handling services that are meant to be free. He urged workers to rely only on official channels, where the company says they can receive direct and professional guidance without cost.

The warning also highlights a broader risk: when savers hand documents or account details to unofficial advisers, they may face unnecessary expenses, identity theft or other forms of fraud. Afore XXI Banorte said no individual, firm or outside adviser is authorised to collect commissions or keep official papers on the grounds that it will speed up dealings with the IMSS, the ISSSTE or the administrators themselves.

The firm said clients should use only its approved channels for retirement-savings procedures and report any attempt at improper charges or deception. Its official services include digital platforms, in-person assistance at offices across Mexico and a confidential reporting system for suspected fraud, part of a wider effort to protect retirement savings and keep transactions within the formal system.