Rising Wave of Online Scam Attacks Hits Brazil

A recent study by Feedzai and the Global Anti-Scam Alliance has revealed a severe surge in online scam attacks in Brazil, with the majority of consumers reporting encounters with scammers on a monthly basis.

The Findings

• 83% of respondents reported encountering a scam at least once a month
• Two-thirds (41%) of respondents had fallen victim to scams
• Average financial loss per individual: R$4784
• Emotional and social impacts of these scams are substantial, adding to the overall toll on victims

Identifying Scams

• 57% of respondents expressed confidence in their ability to identify a scam
• 13% admitted they were unsure or lacked knowledge about how to recognize fraudulent activities

Reporting Scams

• Only 44% (56%) of victims reported the scams to law enforcement, citing distrust in the system’s capacity to respond effectively
• Improved reporting mechanisms and increased trust between consumers and authorities are needed

The Need for Action

The report highlights the urgent need for a multi-faceted approach to combating scams, including:

• Public education campaigns to raise awareness about online scams
• Enhanced reporting mechanisms to encourage victims to come forward
• Government intervention to improve trust in law enforcement and response efforts

Download the Report

To gain deeper insights into the state of scams in Brazil’s financial services industry, download Feedzai and GASA’s comprehensive report. The exclusive findings provide valuable information on the scope and impact of online scams in Brazil, as well as potential solutions to mitigate these issues.