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 poses an increasing risk to consumers and businesses, and our goal is to strengthen security at every stage of the” journey, said 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 companies to identify attempts before they cause any losses”.

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

In the view by mode of attempts, more than half (56%) of the occurrences were identified due to inconsistencies in the registration information, which include discrepancies between the data provided by users and the information recorded 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 use third-party information fraudulently”.

In addition, fraudulent standards related to document authenticity and biometric validation accounted for 36.7% of occurrences, while device verification contributed 7.3%, reinforcing the need for integrated solutions to combat different types of fraud.

Banks and Cards have concentrated more than 50% of fraud attempts

Of the total fraud attempts avoided in November, the “Banks and Cards” segment led as the preferred criminal (52.7%), while the “Varejo” had the lowest incidence (2.1%). Already in relation to age group, citizens between 36 and 50 years were the most targeted for the scams, representing 33.3% of the cases.

State view: decrease in monthly variation in all Federal Units (UFs)

Also in November 2024, the Serasa Experian Fraud Attempts Indicator revealed that all Federal Units (FU) recorded a drop in due diligence when compared to the previous month. The largest was in Santa Catarina (-4,1%). Still, the volume view indicated that the states of the South and Southeast continued in the sights of the scammers.

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.