Brazil registers an attempt at fraud every 2.5 seconds in November, reveals Serasa Experian

November marked the fifth consecutive month of 2024 in which Brazil exceeded the mark of 1 million steps of avoided coups, totaling 1,020,304 cases frequency of an occurrence every 2.5 seconds and an increase of 14.2% compared to the same period of 2023 Fraud Attempt Indicator serasa Experian, the first and largest datatech in Brazil.

"Digital fraud represents a growing risk for consumers and businesses, and our goal is to strengthen security at every stage of the journey," highlights Caio Rocha, Director of Authentication and Fraud Prevention at Serasa Experian. "The technologies we use to identify fraudulent patterns and prevent scams have been essential for businesses to identify attempts before they cause damage," he concludes.

More than half of fraud attempts are detected by inconsistencies in registration information.

In terms of attempted access by modality, over half (56%) of the occurrences were identified due to inconsistencies in registration information. This includes discrepancies between the data provided by users and information registered in reliable or official databases, such as CPF, address, date of birth, or financial history. Rocha explains that "these inconsistencies often indicate attempts to create false identities, manipulate existing data, or fraudulently use the information of third parties."

Furthermore, fraudulent patterns related to document authenticity and biometric validation accounted for 36.7% of the occurrences, while device verification contributed 7.3%, reinforcing the need for integrated solutions to combat various fraud modalities.

Banks and Cards accounted for over 50% of attempted fraud.

Of the total fraud attempts prevented in November, the "Banks and Cards" segment was the criminals' preferred target (52.7%), while the "Retail" segment showed the lowest incidence (2.1%). Regarding age demographics, citizens aged 36 to 50 were the most targeted for scams, representing 33.3% of the cases.

Statewide View: Decline in Monthly Variation Across All Federative Units (UFs)

Still in November 2024, the Serasa Experian Fraud Attempt Indicator revealed that all Federal Units (UF) saw a decrease in investigations compared to the previous month. The largest decrease was in Santa Catarina (-4.1%). Nevertheless, a volume-based view indicated that the Southern and Southeastern states continued to be targets for fraudsters.

Federal District: occurrence rate for each million inhabitants above the national average

Despite the drop in the total volume of fraud in all Federal Units (UFs), the rate of attempts per million inhabitants still worries, exceeding 4.7 thousand records per million. The Federal District led the ranking with more than 7 thousand occurrences per million inhabitants, followed by Sao Paulo, Mato Grosso and five other states that also exceeded the national average.

“Combining anti-fraud solutions, without impacting the user experience, and adding them to consumer awareness, is paramount so that we can increasingly inhibit the action of scammers and protect the digital identities of people and operations of companies”, says Rocha. According to the director, it is necessary to continue investing in technology and awareness to combat fraud.