Brazilian e-commerce experienced a challenging year in 2023, with more than 3.7 million fraud attempts recorded across a total of 277.4 million online sales orders, according to a ClearSale report. Fraud attempts represented 1.4% of orders, totaling R$3.5 billion. The average ticket for these frauds was R$925.44, double the average value of legitimate orders.
Cell phones led the fraud attempts in Brazil, with 228,100 occurrences, followed by telecommunications (221,600) and beauty products (208,200). Other affected categories included sneakers, housewares, sports equipment, furniture, TVs/monitors, refrigerators/freezers, and games. Frauds concentrated on easily resold, high-value products, highlighting that no category is immune.
To combat fraud, companies must adopt internal security policies, train employees in good cybersecurity practices, and verify the authenticity of websites and emails before providing sensitive information. It's essential to use encryption to protect data and invest in anti-fraud solutions and information security tools, such as firewalls, to defend against cyberattacks and reduce financial risks.
Daniel Nascimento, Head of Sales at Soluti, emphasizes the need to invest in digital security. "Companies in Goiás and throughout Brazil need to improve their security strategies by investing in employee training and awareness, as well as security tools. Without this, the fight against attackers is significantly compromised, almost a matter of luck," says Nascimento.
Soluti, a leader in the digital certification market in Brazil, offers technological solutions that help companies prevent fraud and ensure the authenticity of transactions. Nascimento emphasizes the crucial role of digital education in reducing fraud. "It's essential to train the team so they can identify an attack. An informed person can prevent an attack and even prevent it from spreading by notifying the company's security or IT team."
Despite available solutions, small and medium-sized businesses face significant challenges in implementing these measures. "The main challenge is that many companies still don't understand the gravity of this situation and aren't prepared to defend themselves. Many managers believe they won't be targets because of their company's size, which leaves them 'low on guard' and makes them vulnerable to attacks that can cause significant damage," warns Daniel Nascimento.
The rise in online fraud attempts in Brazil highlights the urgent need for robust digital security measures. With cyberattacks becoming increasingly sophisticated, investing in technology and education is essential to protect businesses and ensure consumer trust in e-commerce.
