Serasa Experian's Fraud Attempt Indicator data, the first and largest datatech in Brazil, reveals that in 2024, the number of scams prevented against banks and credit cards increased by 10.4% compared to the previous year, accounting for 53.4% of the frauds recorded during the period. If they were realized, the estimated loss would amount to R$ 51.6 billion.
Additionally, according to another survey conducted by Serasa Experian with consumers, 50.7% of Brazilians were victims of fraud in the past year, a jump of 9 percentage points compared to 2023. Of this total, 54.2% of the victims reported losing money.
Among the most common types of fraud reported by respondents, the misuse of credit cards led the ranking (47.9%), followed by financial scams such as fake bills and Pix fraud (32.8%), phishing (21.6%) and hacking of bank accounts or social networks (19.1%).
Confidence in the sector impacted by the incidence of fraud
According to the survey, these occurrences demonstrated an impact on consumers' trust in online payment methods. The use of Pix for transactions dropped from 69% in 2023 to 60% in 2024, and the security perception of the modality decreased from 32% to 22% in the same period. On the other hand, the credit card gained ground, with 84% of payments being made through it (up from 79% in 2023) and considered reliable by 60% of respondents (46% the previous year). See, in the following chart, the relationship between usage and trust in payment methods:
Regarding the protection capacity of institutions, only 49% of respondents consider credit card companies effective in fraud protection – an increase from 41% in 2023, but still below the ideal. Government agencies (37%) and e-commerce marketplaces (33%) are also among the segments that Brazilians consider the safest, while payment providers experienced a decline in credibility, from 27% to 23%.
Seven out of ten consumers (76%) surveyed also stated that it is likely or very likely they would pay more for a brand that offers online security – in 2023, this indicator was 62%. The authentication and fraud prevention director at Serasa Experian, Caio Rocha, warns that "this growth reflects the increasing concern with data integrity and the impact of reputational risk, especially for banks, which need to reinforce customer trust by offering secure and robust solutions against fraud."
Layered protection as a solution against fraud
To contain this advance, more secure authentication technologies are essential. The survey indicates that physical biometrics is the most recognized method by consumers for fraud protection, increasing from 59% in 2023 to 67% in 2024. Other methods, such as PIN codes sent to cell phones (from 45% to 48%) and security questions (from 36% to 40%), are also used but face limitations against sophisticated scams. See the most well-known authentication methods in the following chart
Caio Rocha explains that the relationship between financial scams and digital authentication is direct: criminals exploit human flaws through social engineering to steal data and impersonate consumers, accessing bank accounts, making unauthorized transactions, and deploying increasingly sophisticated scams.The stronger the authentication process, the lower the chances of success for criminals.
“The more robust the authentication process, the lower the chances of criminals succeeding. With the rise of sophisticated scams, such as deepfakes and AI-driven fraud, it is important to consider adopting technologies that are constantly improved, in addition to a layered fraud prevention strategy, combining different technologies to reinforce security and strengthen trust in digital services,” he concludes.
Research Methodology
The Serasa Experian study presents the results of the 2nd Wave with End Consumers, continuing the study initiated in 2023. The survey was conducted to understand consumers' online experiences and how authentication and fraud prevention services are perceived and valued. The research aimed to map these experiences, measure the perception of authentication and fraud prevention service providers, including Serasa Experian, assess the incidence of fraud in the sample, analyze financial losses, and understand the impacts of these frauds on concerns about digital security. It was also analyzed which anti-fraud methods consumers know and which ones convey a greater sense of security.
The data was collected in two distinct periods: from November 7 to 22, 2023 (804 interviews) and from November 4 to 18, 2024 (877 interviews), all conducted with individuals (PI). The margin of error for the results is 3.4% in 2024 and 3.5% in 2023, with a 95% confidence interval.
The sample represents a demographic profile predominantly composed of class B individuals, with an average age of 41 years and residents of capital cities. Among the respondents, 54% are female and 47% are male. The average age increased from 39 years in 2023 to 41 years in 2024. Regionally, the highest concentration is in the Southeast, with 45% of respondents in 2024, while the Midwest saw an increase in participation, rising from 7% to 10%.
