Brazil Faces Over 3.7 Million Online Fraud Attempts in 2023

Brazilian e-commerce has gone through a challenging year in 2023, with more than 3.7 million fraud attempts recorded in a total of 277.4 million online sales requests, according to a report by ClearSale.Fraud attempts accounted for 1.4% of orders, adding up to a total value of R$ 3.5 billion. The average ticket for these frauds was R$ 925.44, double the average value of legitimate orders.

Mobile phones led fraud attempts in Brazil, with 228.1 thousand occurrences, followed by telecommunications (221.6 thousand) and beauty products (208.2 thousand). Other categories affected included sneakers, household goods, sports, furniture, TVs/monitors, refrigerators/freezers and games. Fraud focused on products that were easily resold and high added value, showing that no category is immune.

To combat fraud, companies must adopt internal security policies, training employees in good cybersecurity practices and verifying the authenticity of websites and emails before providing sensitive information. It is essential to use encryption to protect data and invest in anti-fraud solutions and information security tools, such as firewalls, to defend against cyberattacks and reduce financial risks.

Daniel Nascimento, Sales Head of Soluti, emphasizes the need to invest in digital security. “ Companies in Goias and throughout Brazil need to improve their security strategies by investing in employee training and awareness, as well as security tools. Without this, the dispute against attackers is greatly compromised, almost at ‘00'”, says Nascimento.

Soluti, the leader in the digital certification market in Brazil, offers technological solutions that help companies avoid fraud and ensure the authenticity of transactions. Nascimento highlights the crucial role of digital education in reducing fraud. “It is essential to train the team to be able to identify an attack. A conscious person can prevent the attack and even prevent it from being disseminated, already warning the company's security or IT team.”

Despite the available solutions, small and medium-sized companies face significant challenges when implementing these measures. “The main challenge is that many companies still do not understand the gravity of this scenario and are not prepared to defend themselves. Many managers believe that they will not be targeted because of the size of their companies, which leaves the ̄s guard low and makes them prone to suffer attacks that can cause significant damage‘, warns Daniel Nascimento.

The increase in online fraud attempts in Brazil highlights the urgent need for robust digital security measures.With the increasing sophistication of cyberattacks, investing in technology and education is essential to protect companies and ensure consumer confidence in e-commerce.