This paper will examine the two key axes of Latin American security dynamics:on the one hand,weak governance and citizen insecurity; and on the other, transnational organized crime and illicit flows.It will also explore their interlinkages, and the ways in which secondary security challenges in the region feed off of and/or reproduce them. Based upon this discussion the paper will then evaluate distinct mechanisms for coping with these problems, identify the most likely future security scenarios in the region and suggest a number of ways in which regional insecurity might be addressed more effectively.