Private security businesses boom in Mexico’s drug war

Global Business

Private security businesses boom in Mexico's drug war

As the drug war rages on, Mexico’s wealthy are increasingly turning to private security companies to protect them.

CCTV America’s Martin Markovits reports.
Follow Martin Markovits on Twitter @MartinMarkovits

Private security businesses boom in Mexico\'s drug war

Private security businesses boom in Mexico\'s drug war

As the drug war rages on, Mexico’s wealthy are increasingly turning to private security companies to protect them. CCTV America’s Martin Markovits reports.

After spending most of his life in law enforcement, Jaime Montoya decided to switch professions. He is now the owner of a private security.

His company provides armed escorts and security camera to Mexico’s elite who increasingly being targeted by drug gangs. Moving away from narco trafficking, many of these criminal groups are now turning to kidnapping and robberies as a new source of income.

Little faith in Mexico’s notoriously corrupt police, has led some wealthy citizens to turn to the private sector for protection.

Mexico’s National Security Commission said over 1,168 private security companies are registered in the country, an increase from 173 in 2005.

There are also concerns that are not enough government oversight over these private security companies.

In August, Mexico’s National Security Commissioner Renato proposed creating a new regulatory framework and a database. If the legislation passed the government hopes these companies will be properly regulated.