Brazilian companies with annual turnover exceeding US$ 1 million (R$ 5,6 milhões) may have lost at least US$ 100,000 — more than R$ 565 thousand — for virtual criminals, according to the researchPesquisa de Pulso da Indústria de Fraudes no Brasil 2025, carried out by Veriff, estonian unicorn specialising in digital fraud prevention and cybersecurity. The study reveals that online fraud impacted the revenue of over 80% of Brazilian companies
The financial impact of digital fraud on Brazilian businesses is significant: more than one fifth (20,5% dos profissionais brasileiros entrevistados relataram perda de pelo menos 10% da receita devido a atividades fraudulentas. This number 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 jeopardizes investments, operations and growth
This scenario underscores 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, indicating a change in behaviour and a growing awareness of online risks. As a result, consumer confidence has become a strategic asset, and meeting safety expectations is today a clear competitive advantage
AI: a double-edged sword
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 may be crucial for data protection, reputation and revenue, the Veriff research shows that 69% of specialists observed an increase in technology use 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
The Veriff research identified the three main types of fraud affecting Brazilian companies. The most common is themalware(53%), que utiliza programas maliciosos para infiltrar sistemas, stealing data and spying on operations — many times without being detected. In second place is thedocumentary fraud(40%), que envolve o uso de documentos falsificados ou adulterados para simular identidades legítimas e aceder a serviços financeiros. Finally, aauthorised fraud(36%) occurs when the customer is deceived — generally throughphishing— to approve 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, another culture
Veriff's participation in Web Summit Rio 2025 further reinforces the warning raised by the company's latest research. Kaarel Kotkas, founder and CEO of Veriff, participated in the panelScamdemic: How fintechs are fighting back(How fintechs are reacting), beside Rodrigo Tognini (Conta Simples) and Lucas Vargas (Nomad), with mediation by Kimberley Waldron (Started PR). They highlighted how every fraudster has something in common: a bank account, therefore, the need to think like a fraudster. They share information quickly and attack on a large scale. Just like criminals act in an organized manner, the financial and technological sector also needs to evolve in collaboration and information sharing to protect the ecosystem as a whole, highlighted 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 company culture. According to him, ignoring this need can jeopardize a significant part of the companies' revenue. And this impact also falls on the end consumer, que acaba arcando com custos mais altos para compensar os prejuízos gerados por fraudes: “Os utilizadores honestos acabam pagando uma espécie de ‘imposto da confiança’ para cobrir as ações dos maus atores”, evaluated.
Kotkas also drew attention to the effects of loss of digital trust: “If a person suffers a financial scam, she tends to avoid the entire sector for quite some time. Therefore, preserving trust in the online environment is essential to ensure that innovation continues to benefit society.
Ao abordar os novos desafios do setor, Kaarel also pointed out that 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, e as usam.”
According to him, Brazil is a clear example of these transformations and challenges. He highlighted innovation in the country's financial system, como o avanço do Pix e o uso de bases biométricas para verificação de identidade. However, warned that relying on a single technology, how biometrics, It can be risky: "No isolated solution is sufficient, therefore, it is essential to combine biometrics with behaviour analysis, contextual data and multiple checkpoints to strengthen security, because the techniques of forgery are very advanced, explained
The specialist warned about the rapid pace of new payment methods and the risks they pose. Instant payments mean instant frauds. If the payments are quick, the responses against fraud also need to be even faster, concluded.
On the last day of the event (30 April), Kaarel also will participate in the panel “Canconfiamos en un gobierno completamente digitalPodemos confiar en un gobierno totalmente digital?). The session will bring together cybersecurity and AI ethics experts to analyse the opportunities and challenges of building fully digital government infrastructures, besides debating whether these systems can, in fact, ser seguros ou abrir caminho para potenciais ameaças cibernéticas
A technological hub opening in São Paulo reinforces Veriff's commitment to Latin America
As part of your global expansion strategy and the increasing 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 main economic hubs in the world, known for its mature talent ecosystem, tech 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, e 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, com a Veriff registando um aumento de mais de 2,5 times the turnover 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 your presence with regional roots.
