Brazilian Banks Faced with High Credit Card Fraud Rates, Experts Warn

Brazil’s High Credit Card Fraud Rate Leaves Banks and E-commerce Businesses Reeling

Brazil has emerged as one of the top 10 countries worldwide with the highest credit card fraud rates. According to industry insiders, this is due in part to the country’s consumer defense legislation, which poses unique challenges for financial institutions. As a result, it is crucial for banks and e-commerce businesses to adopt cutting-edge anti-fraud solutions.

Experts recommend that banks and e-commerce companies utilize intelligent and state-of-the-art anti-fraud tools specifically designed for the Brazilian market. One such solution is PagShield, an innovative online fraud prevention system that leverages real-time analysis of buying behavior patterns to detect fraudulent transactions with unparalleled accuracy.

How PagShield Works

Advanced Mechanisms for Accurate Detection

PagShield’s unique technology combines advanced mechanisms such as:

Device fingerprinting
IP geo-location
Social graph analysis
Proxy detection
Velocity checks

to analyze customer browsing habits. The algorithm adapts itself to each e-commerce business, eliminating the need for constant and time-consuming management of fraud rules.

Machine Learning Technology for Accurate Identification

What sets PagShield apart is its machine learning technology, which continuously learns from user behavior patterns to automatically identify any atypical activity on a website. This enables businesses to achieve higher approval rates compared to traditional antifraud systems, while minimizing false positives.

Seamless Integration and Real-Time Analysis

The solution can be seamlessly integrated into existing API or iFrame integrations and requires only a few parameters to be added to webpages. All transactions are analyzed in real-time, with suspicious orders identified and false positives kept to a minimum.

Additional Benefits

Combining PagShield with Existing Antifraud Solutions

PagShield can also be combined with existing antifraud solutions, providing additional fraud scoring information. With no contractual obligations or charges per transaction, businesses can enjoy the benefits of this highly efficient anti-fraud solution at an affordable cost.

Conclusion

Brazil’s high credit card fraud rate is a significant concern for banks and e-commerce businesses. However, by utilizing intelligent anti-fraud tools like PagShield, businesses can effectively combat this growing menace and minimize losses.