E-commerce in Brazil has grown exponentially in recent years, with a significant leap in the volume of transactions. At the same time, online fraud has also become more sophisticated. This scenario reflects not only the expansion of digital activity, but also the vulnerability of Brazilian consumers to increasingly elaborate scams. 

In 2021, a report shows that Brazil faced 1.9 million fraud attempts. In the same year, more than a quarter of Brazilians were victims of fraud when buying online, despite 87% reporting that they feel safe in e-commerce. In 2022, there were 5.6 million fraud attempts during the year.  

In 2023, the numbers dropped, but they still worry consumers and sellers. The first half of the year saw 2 million attempts at online shopping fraud. From January to September, around 80,000 people were victims of virtual scams when buying and selling products such as cell phones, clothes, household items and electronics - an average of 9,000 scams per month. This data highlights the growing problem of digital threats in e-commerce. 

Why is Brazil a common target? 

Brazilian Market Dynamics 

As one of the largest e-commerce markets in Latin America, Brazil has a high volume of online transactions. The Southeast region, for example, accounts for 60.03% of the country's fraud attempts. This, combined with accelerated digitalization due to the pandemic, has created an environment ripe for fraudulent activity. 

Gaps in Digital Security 

Many Brazilian companies are still in the process of adapting to the most advanced digital security technologies. This transition, which is often slow, opens up loopholes for fraudsters. 

Challenges in Authentication and Fraud Management 

Experts stress the importance of integrating authentication, fraud management and customer experience. Ineffective authentication systems increase the risk of fraud, harming both consumers and companies. 

The most common types of fraud in Brazil 

Scammers in Brazil tend to focus on three main categories: actual fraud, friendly fraud and self-fraud.  

Effective fraud involves the use of stolen credit card data, while friendly and self-fraud are perpetrated by acquaintances of the victim or the cardholder themselves, respectively. 

Protection Measures and the Importance of Cybersecurity 

To mitigate these threats, it is crucial to adopt layered protection strategies, which include robust authentication and effective fraud management. Here are some tips for staying protected in an age when threats are increasingly sophisticated and difficult to identify: 

For companies: 

• Invest in security technologies and advanced anti-fraud solutions. 
• Adopt a layered security approach, combining data, analytics and automated solutions. 
• Carry out detailed analysis of suspicious transactions, especially high-value ones. 
• Keeping records up to date and verifying the accuracy of customer information. 

For consumers: 

• Keep documents, cell phones and cards safe. 
• Be wary of very advantageous offers and check the authenticity of online stores. 
• Avoid sharing sensitive data on unsecured platforms. 
• Frequently monitor CPF and other personal information. 

ISH's expertise in combating online fraud 

In a scenario where online fraud is becoming increasingly sophisticated, the need for a robust and adaptive digital security approach is evident.  

With our experience and expertise in cybersecurity, we stand out as a crucial ally for companies looking to protect their operations and customers in the digital environment. 

Contact us to find out how you can be better protected against online fraud and scams..