Data from the Fraud Attempt Indicator of Serasa Experian, first and largest datatech in Brazil, reveal that, in 2024, the number of frauds avoided against banks and credit cards increased 10,4% compared to the previous year, representing 53,4% of the frauds registered in the period. If they were realized, the estimated loss would reach R$ 51,6 billion
Furthermore, according to another survey conducted by Serasa Experian with consumers, 50,7% of Brazilians were victims of fraud in the last year, a jump of 9 percentage points compared to 2023. From this total, 54,2% of the victims reported having lost money
Among the most common types of fraud reported by respondents, the misuse of credit cards topped the ranking 47,9%), followed by financial blows such as fake bills and fraud via Pix,8%), phishing (21,6%) and invasion of bank accounts or social networks (19,1%)
Confidence in the sector impacted by the incidence of fraud
According to the research, these occurrences have shown to impact consumer confidence in online payment methods. The use of pix for transactions dropped from 69% in 2023 to 60% in 2024, and the perception of security regarding the modality fell from 32% to 22% in the same period. On the other hand, the credit card gained space, with 84% of payments being made through it (compared to 79% in 2023) and considered reliable by 60% of respondents (46% in the previous year). See, in the following graph, the relationship of use and trust in payment methods
Regarding the protective capacity of institutions, only 49% of respondents consider credit card companies effective in fraud protection – an increase compared to the 41% in 2023, but still below ideal. Government agencies (37%) and e-commerce marketplaces (33%) also rank 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 by the research stated, yet, it is likely or very likely to pay more for a brand that offers online security – in 2023 this indicator was 62%. The director of authentication and fraud prevention at Serasa Experian, Caio Rocha, alert that "this growth reflects the increasing concern with data integrity and the impact of reputational risk, especially for banks, that need to reinforce customer trust by offering secure and robust solutions against fraud
Layered protection as a solution against fraud
To contain this advance, the safest authentication technologies are essential. The survey indicates that physical biometrics is the most recognized method by consumers for protection against fraud, increasing from 59% in 2023 to 67% in 2024. Other methods, like 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 blows. 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, carrying out improper transactions and applying increasingly sophisticated scams.The stronger the authentication process is, the chances of success for criminals are lower.
The more robust the authentication process is, the chances of success for criminals are lower. With the advancement of sophisticated scams, how deepfakes and AI-driven frauds, it is important to consider the adoption of technologies that are constantly improved, in addition to a layered fraud prevention strategy, combining different technologies to enhance security and strengthen trust in digital services, concludes
Research Methodology
The study by Serasa Experian presents the results of the 2nd Wave with End Consumers, continuing the study started in 2023. The survey was conducted with the aim of understanding 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 service providers and fraud prevention, 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 antifraud methods consumers are aware of and which provide 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 carried out with individuals (PF). 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 made up of people from class B, with an average age of 41 years and residing in capitals. Among the respondents, 54% are female and 47% are male. The average age increased from 39 years in 2023 to 41 years in 2024. In regional terms, the largest concentration is in the Southeast, with 45% of respondents in 2024, while the Midwest recorded growth in participation, increasing from 7% to 10%
