Brazilian companies with annual revenue above US$ 1 million (R$ 5.6 million) may have lost at least US$ 100,000 — more than R$ 565,000 — to cybercriminals, according to the survey.Brazil Fraud Industry Pulse Survey 2025, carried out by Veriff, an Estonian unicorn specializing in digital fraud prevention and cybersecurity. The study reveals that online fraud impacted the revenue of more than 80% of Brazilian companies.
The financial impact of digital fraud on Brazilian businesses is significant: more than one-fifth (20.5%) of Brazilian professionals interviewed reported losing at least 10% of revenue due to fraudulent activities. This figure places Brazil ahead of countries like the United States (13.5%) and the United Kingdom (9%), highlighting the severity of the local situation—a loss that often compromises investments, operations, and growth.
This scenario reinforces the urgent need for companies to implement more robust digital security measures. In fact, 79.5% of Brazilian specialists state that their clients are demanding more effective fraud prevention strategies, signaling a change in behavior and a growing awareness of online risks. As a result, consumer confidence has become a strategic asset, and meeting safety expectations is now a clear competitive advantage.
IA: uma faca de dois gumes
Artificial intelligence (AI) has been playing an increasingly ambiguous role in the digital security landscape, being used by both criminals and companies. Although the intelligent and ethical use of AI can be crucial for protecting data, reputation, and revenue, Veriff's research shows that 69% of experts observed an increase in the use of technology by fraudsters. At the same time, 69.5% of companies are also adopting AI to strengthen their digital security.
The most common types of fraud in Brazil
Veriff's research identified the three main types of fraud affecting Brazilian companies. The most frequent is themalware (53%), which uses malicious software to infiltrate systems, steal data, and spy on operations — often without being detected. In second place is thedocumentary fraud(40%), which involves the use of forged or tampered documents to simulate legitimate identities and access financial services. Finally, theauthorized fraud(36%) occurs when the customer is deceived — usually throughphishing — approving a fraudulent transaction, making this type of scam especially difficult to identify and reverse.
The data reinforce the urgent need for more robust identity verification solutions and better digital education among users to prevent financial losses.
Web Summit Rio 2025: fraud prevention is not just a technology, but a culture
Veriff's participation in Web Summit Rio 2025 further reinforces the warning raised by the company's most recent research. Kaarel Kotkas, founder and CEO of Veriff, participated in the panel “Scamdemic: How fintechs are fighting back”(How fintechs are responding), alongside Rodrigo Tognini (Conta Simples) and Lucas Vargas (Nomad), moderated by Kimberley Waldron (Started PR). They highlighted how every fraudster has something in common: a bank account, hence the need to think like a fraudster. "They share information quickly and attack on a large scale. Just as criminals act in an organized manner, the financial and technological sectors also need to evolve in collaboration and information sharing to protect the ecosystem as a whole," emphasized Kaarel.
The CEO of Veriff explained that fraud prevention should be seen not only as a matter of technology or business strategy but as part of the company's culture. According to him, ignoring this need could jeopardize a significant portion of the companies' revenue. And this impact also falls on the end consumer, who ends up bearing higher costs to compensate for the losses caused by fraud: "Honest users end up paying a kind of 'trust tax' to cover the actions of bad actors," he assessed.
Kotkas also drew attention to the effects of losing digital trust: "If a person suffers a financial scam, they tend to avoid the entire sector for a long time. Therefore, preserving trust in the online environment is essential to ensure that innovation continues to bring benefits to society."
When addressing the new challenges of the sector, Kaarel also pointed out that the solutions that worked in the past are no longer sufficient in the face of the rapid evolution of fraudsters. Frauds evolve very quickly, and criminals have access to the most modern tools, which they use.
According to him, Brazil is a clear example of these transformations and challenges. He highlighted innovation in the country's financial system, such as the advancement of Pix and the use of biometric databases for identity verification. However, he warned that relying solely on a single technology, such as biometrics, can be risky: "No isolated solution is sufficient, so it is essential to combine biometrics with behavior analysis, contextual data, and multiple verification points to strengthen security, as forgery techniques are very advanced," he explained.
The specialist warned about the rapid pace of new payment methods and the risks they bring. "Instant payments mean instant frauds. If payments are quick, fraud responses must also be even faster," he concluded.
On the last day of the event (April 30), Kaarel will also participate in the panel "CanDo we trust a fully digital government?(Can we trust a fully digital government?) The session will bring together cybersecurity and AI ethics experts to analyze the opportunities and challenges of building fully digital government infrastructures, as well as discuss whether these systems can indeed be secure or if they open the way to potential cyber threats.
Opening of a tech hub in São Paulo reinforces Veriff's commitment to Latin America
As part of its global expansion strategy and the growing focus on the Latin American market, Veriff's participation in Web Summit Rio 2025 was marked by the inauguration of its first technology hub in Brazil. The new headquarters, which had an investment of R$ 17 million (US$ 3 million), is strategically located on Paulista Avenue in São Paulo — one of the world's main economic hubs, known for its mature talent ecosystem, technology hubs, infrastructure, and investments.
The inauguration event brought together business leaders and authorities from Estonia and Brazil. Kaarel Kotkas, together with Roberta Guedes, Head of Regulatory Compliance and Privacy Manager at iBetta, and Diego Perez, president of ABFintechs, participated in the panelUnlocking business growth with real people in the AI era, moderated by Maurício Guidi, partner at Pinheiro Neto law firm.
This strategic move occurs after a period of significant growth in the region, with Veriff recording an increase of more than 2.5 times in business volume in Latin America in the past year. The company's arrival in Brazil is part of a strategic plan to get closer to local customers, understand the specific needs of the Latin American market, and expand its presence with regional roots.
