Banking Fraud: Beyond Digital Security
In 2024, nearly 40% of Brazilians fell victim to banking frauds with total losses reaching R$10.1 billion. This phenomenon combines technology, social engineering, and misuse of personal data for quick fund transfers, primarily affecting elderly and less digitally savvy consumers.
In the current landscape, banking frauds have become increasingly prevalent in Brazil. Recent data from the Brazilian Banking Federation (Febraban) indicates that nearly 40% of Brazilians have fallen victim to such crimes, with total losses amounting to R$10.1 billion in 2024—up by 17% compared to the previous year and marking a new peak in reported cases. This evolution of frauds extends beyond digital security, intertwining technology and social engineering techniques, alongside misappropriation of personal data for swift fund transfers. Experts highlight that victims can exercise their rights to contest fraudulent transactions formally and request the preservation of technical evidence to assist investigations. However, many consumers are unaware of these rights, complicating the recovery of lost funds.
Source: Valor Econômico