In the first half of 2024, there was an attempt of fraud every 3 seconds in the country, totaling 5.3 million in the period, thwarted through protective layers applied during security authentications. The data is from the Fraud Attempt Indicator of Serasa Experian, the first and largest datatech in Brazil. Just in June, the number was 860,966 occurrences, 4.6% higher than those recorded in the same period of 2023. Check out the data of the last 12 months and the evolution of the semester accumulation in the following graphs.
Check out the data of the last 12 months and the evolution of the semester accumulation in the following graphs:
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| Source: Serasa Experian |
By modality view, 60.4% of the attempted frauds prevented in the semester were identified by inconsistencies in registration data; 33.2% by fraudulent patterns related to document authenticity and biometric validation, and 6.4% by suspicious behaviors on devices, such as previous associations with frauds.
According to Caio Rocha, Director of Authentication and Fraud Prevention at Serasa Experian, staying one step ahead of fraud is essential to combat them, ensuring that institutions can effectively protect themselves and their customers. “Consumer confidence is strengthened when they know their information is secure. Our Digital Identity and Fraud Report has already revealed that consumers are becoming increasingly familiar with the digital environment and prioritize security, showing greater confidence in companies that provide it.”
“Banks and Cards” was the sector with the highest number of fraud attempts in the semester (54%), and “Telephony” had the lowest recurrence (4.7%). Regarding ages, citizens aged 36 to 50 had the highest incidence of fraud attempts in June (35.5%). Check the breakdown by sector and age group:
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| Fonte: Serasa Experian |
Fraudsters continue to concentrate in the South and Southeast regions
In the first half of this year, the states of Amapá, Acre, and Roraima had the lowest participation in the number of fraud attempts and Minas Gerais, Rio de Janeiro, and São Paulo had the highest percentages. Below are the graphs showing the annual participation and the variation over the last twelve months
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| Source: Serasa Experian |
Attempts per million inhabitants
The indicator also brought the insight that there were, on average, 4,110 fraud attempts per million inhabitants in Brazil. In the ranking by states, DF led, followed by MT, SC, SP, PR, and MS. Check out the complete list with the numbers below:
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| Source: Serasa Experian |
Avoid fraud: see tips from Serasa Experian experts to protect yourself
Consumers:
· Ensure that your document, cell phone, and cards are secure with strong passwords for accessing applications;
· Beware of offers for products and services, such as trips, with prices well below the market. At these times, it is common for cybercriminals to use names of well-known stores to try to invade your computer. They rely on emails, SMS, and replicas of websites to collect information and credit card data, passwords, and personal buyer information;
· Be cautious with links and files shared in social media messaging groups. They can be malicious and redirect to insecure pages that infect devices with commands to operate without the user’s knowledge;
· Register your Pix keys only in the official channels of banks, such as banking applications, Internet Banking, or branches;
· Do not provide passwords or access codes outside of the bank’s website or application;
· Do not transfer money to friends or relatives without confirming by call or personally that it is really the person in question, as the person’s contact may have been cloned or falsified;
· Include your personal information and card data only if you are certain that it is a secure environment;
· Monitor your CPF regularly to ensure you have not been a victim of fraud.
Companies:
· Invest in fraud prevention technologies to protect the integrity and security of your company’s operations.
· In an increasingly digital and interconnected business environment, where frauds evolve and spread rapidly, fraud prevention in layers is not just a good practice, but a strategic necessity;
· Ensure the quality and accuracy of fraud prevention solution data from solutions that constantly improve in the face of fraud changes and threats;
· Deeply understand your user’s profile and constantly seek to minimize friction points in their digital journey, ensuring a smooth experience without compromising security.
· Use fraud prevention as a lever to generate revenue by implementing an intelligent orchestration of solutions that maximize security, reduce losses, and allow for a more agile and reliable shopping experience for the customer
Methodology
The Serasa Experian Consumer Fraud Attempt Indicator is the result of the intersection of two sets of information from Serasa Experian databases: 1) total monthly CPF queries made at Serasa Experian; 2) fraud risk estimate, obtained through the application of probabilistic fraud detection models developed by Serasa Experian, based on Brazilian data and Experian global technology already established in other countries. The Serasa Experian Consumer Fraud Attempt Indicator is constituted by multiplying the quantity of CPFs queried (item 1) by the fraud probability (item 2), as well as adding the volume of fraud attempts recorded by the company related to document verification, facial biometrics, and cadastral verification.
