The digital era, marked by increasing connectivity, has brought a series of benefits to society. However, the dark side of this reality is the proliferation of digital scams that continue to multiply in the online environment. So much so that Brazil has established itself as one of the main targets of digital fraud in Latin America, with a worrying increase in recent years. Losses in Brazilian e-commerce reached R$ 8.5 million, and 64% of companies have already been victims of cyberattacks, according to the most recent survey from the Digital Security Barometer—by MasterCard.
In other words, every conscious company needs to understand the details of how these crimes have evolved and what the main challenges are in combating them, and this is where companies like PH3A come in, an authority in technology, a company dedicated to developing solutions, such as DataFraud, which has helped mitigate the volume of electronic fraud occurrences.
But, after all, what are the main types of digital scams today? Paulo Cesar Costa, CEO and founder of PH3A, reveals:
- Phishing:Deception via emails, text messages, or fake websites to obtain personal and financial information. In other words, the received message contains some link as a trap.
- Malware: Installation of malicious software on computers or mobile devices to spy, steal data, or hijack systems. So, once again, the link carries a trap.
- Social engineering: Psychological manipulation to induce people to provide confidential information or take actions that benefit criminals. Thus, the most innocent or well-intentioned people end up falling for scams.
- Social media scams: Scams that exploit interactions on social media to obtain personal or financial data. In this case, social media is also fertile ground for criminals to promote their digital scams.
- Messaging app scams: Those that take advantage of messaging apps to carry out scams, such as fake kidnapping schemes. Therefore, messaging apps can also be a source of fraudulent communication that deceives users.
And what factors have driven the growth of scams? According to Paulo Cesar, there are several factors that contribute most to the increase in digital scams, including:
- Popularization of the internet: The increasing use of the internet and mobile devices makes the population more vulnerable to cyberattacks. In other words, with more internet use, more opportunities for criminals to act.
- Lack of awareness: Many people are still unaware of the risks of the internet and do not adopt adequate security measures. Thus, carelessness becomes a dangerous component.
- Sophistication of criminals: Digital criminals are becoming increasingly sophisticated and use ever more elaborate techniques to deceive their victims. Thus, the intelligence of internet usage ends up being on both the security and crime sides.
- Security vulnerabilities: Security flaws in systems and apps can be exploited by criminals to gain access to personal and financial data. Therefore, all types of security technology should be considered to stay ahead of criminals.
Regarding the consequences of digital scams, PH3A’s executive explains that there is a wide variety of fraud in the online environment, with great reach. Thus, digital scams can cause various damages to victims, such as:
- Financial loss: The main damage is the loss of money, which can be significant in some cases.
- Reputation damage: The disclosure of personal information can compromise the victim’s reputation.
- Emotional distress: Victims of digital scams can suffer emotional distress, such as anxiety and depression.
Costa also shares what to do to protect yourself, starting with adopting some security measures:
- Keep your software updated: Keep your operating system, antivirus, and other software updated to fix vulnerabilities.
- Create strong and unique passwords: Use strong and unique passwords for each online account and avoid reusing passwords.
- Be wary of suspicious emails and messages: Do not click on links or open attachments in emails from unknown senders.
- Verify the authenticity of websites: Make sure the site you are accessing is secure before entering personal information.
- Use a quality antivirus: Install a good antivirus and keep it updated.
- Keep your operating system updated: Keep your operating system updated to fix vulnerabilities.
- Do not share personal information on social media: Avoid sharing too much personal information on social media.
He also emphasizes: ‘Among the solutions to ensure data security and avoid major losses, it is necessary to use Big Data systems, which allow permanent and automatic monitoring and cross-referencing of data to validate information or abort potentially fraudulent situations,’ explains PH3A’s CEO. For example, fraud prevention systems can identify whether the e-commerce buyer is who they claim to be and not pretending to be someone else. And in case of doubts, it generates a quiz with some questions like, what car did you have five years ago, what job did you have five years ago, who is the neighbor to the right of your residence, which websites did you visit yesterday, etc. Questions that no fraudster can answer accurately.
To conclude, the entrepreneur adds that it is a fact that authorities and companies also play a fundamental role in preventing and combating scams, and technologies, including data technology, emerge as great allies, as they have the role of performing automatic information checks.
‘And this routine is a great advantage for any and all e-commerce,’ concludes Paulo Cesar Costa.
