Favorite targets of fraudsters are people between 36 and 50 years old. Data is part of the Fraudometer, which recorded more than 7.4 million fraud attempts between January and September
It is estimated that losses of R$ 41.4 billion by companies and consumers were avoided in Brazil in the first nine months of the year, thanks to authentication and fraud prevention tools. The data are from Fraudometer, the first real-time counter of fraud attempts created by Serasa Experian, datatech leader in intelligence solutions for analyzing risks and opportunities, focusing on credit journeys, authentication and fraud prevention. The amount would be the result of more than 7.4 million unsuccessful occurrences recorded in the same period, one every three seconds.
On the Fraudometer page, available at www.serasaexperian.com.br/
“Information is the first tool for fraud prevention. It was from this premise that we came up with the idea of launching the Fraudometer: to bring more awareness to companies and consumers about the progress of these attempts in the country. Furthermore, every minute, criminals are looking to profit through scams. Although there is no solution that represents the 'silver bullet' in preventing fraud, there are ways to gain efficiency in this task. Serasa Experian, for example, developed a system that works end-to-end, with several layers of protection that can be combined to authenticate a user, based on five different capabilities. In this way, in fact, companies are able to play their role in knowing who is who in their environments and protecting both their business and the consumer”, declares the director of Authentication and Fraud Prevention Products at Serasa Experian, Caio Rocha.
To offer this Fraudometer information, Serasa Experian considers the total number of monthly consultations in its base and the fraud risk estimate obtained with the application of probabilistic fraud detection models developed by the company. In addition, the volume of fraud attempts recorded by the company relating to document verification (identification document analysis), facial biometrics, registration verification and identity theft is added.
The four layers for companies to protect themselves from fraud
Relying on technology is crucial for companies to create a system that, in addition to bringing security to consumers, guarantees a fluid and assertive experience without high costs. Different mechanisms, from data intelligence to Artificial Intelligence, are now combined to, among other purposes, validate identities and flag possible fraud in the most agile way possible. In this context, Serasa Experian works with solutions distributed in four capacities to actually authenticate who is real and who is a fraudster:
· First layer: data analysis to identify the veracity of registration information and whether there is suspicious behavior, through analytical intelligence;
· Second layer: facial biometrics technology that, through the consumer's selfie, can validate the person's identity. Technologies capable of automatically detecting whether it is a living person and not a photo of the photo are applied here, deepfake, cell phone screen, a person wearing a mask or a doctored video, for example.
· Third layer: considers the device the person is using, whether it has been authenticated by the real person or whether their information could be used by a fraudster. It is possible to verify this from device data compared to user information, such as behavior, locations, IP, cell phone model, associated users, etc.;
· Fourth layer: more than 10,000 document verification intelligence rules are applied here, where analyzes are carried out on possible tampering such as changes in fonts, alignment, among other issues. Furthermore, the analysis is carried out with facematch – the “face badge” of comparison if the photo of the document matches the selfie captured by the user. The technology is capable of considering the different types of documents in circulation in Brazil.
To orchestrate all these technologies and deliver a more accurate and secure final recommendation, Serasa Experian uses end-to-end analytical intelligence with machine learning that enable the combination of all layers, through a color of Serasa Experian modeling.
Fraudometer
The Fraudometer is based on Serasa Experian Fraud Attempts Indicator, which crosses two sets of information: the total monthly CPF consultations on the company's database and the fraud risk estimate, obtained with the application of probabilistic fraud detection models developed by the company, supported by data from Brazilians and technology Global Experian already consolidated in other countries. The number is reached with the equation between the number of CPFs consulted versus the probability of observed fraud. In addition, the volume of fraud attempts recorded by the company relating to document verification (identification document analysis), facial biometrics, registration verification and identity theft is added.
Avoid fraud: see tips from Serasa Experian experts to protect yourself
Consumers:
· Ensure that your document, cell phone and cards are secure and have strong passwords to access applications;
· Be wary of offers of products and services, such as travel, with prices well below the market. At these times, it is common for cybercriminals to use the names of well-known stores to try to invade your computer. They use emails, SMS and website replicas to try to collect information and credit card details, passwords and personal information from the buyer;
· Be careful with links and files shared in message groups on social networks. They can be malicious and lead to unsafe pages, which contaminate devices with viruses to work without the user noticing;
· Register your Pix keys only on official bank channels, such as the banking app, Internet Banking or branches;
· Do not provide passwords or access codes outside the bank's website or application;
· Do not make transfers to friends or relatives without confirming by phone call or in person that it really is the person in question, as the person's contact details may have been cloned or falsified;
· Only include your personal information and card details if you are sure that it is a secure environment;
· Monitor your CPF frequently to ensure you have not been a victim of any Pix fraud.
Companies:
· With the acceleration of the adoption of digital channels in consumers' lives, companies are increasingly investing in new methods of anti-fraud solutions and sophisticated technologies throughout the customer journey, so that the security of the operation does not affect their integrated experience. Serasa Experian, for example, has intelligent modular solutions and a team of experts that make it possible to offer a safe and frictionless experience to the end customer. With a combination of data, analytics and automated solutions, companies can safely expand their business.
· Count on online payment platforms. The company that wants to operate online, providing services or selling products, needs to pay maximum attention to payments. It is necessary to adopt a system that combines speed in processing transactions with security;
· Carry out purchase analysis: invest in credit and fraud predictive layers, especially those that carry out behavioral analysis of your customers and users. Thus, your company can evaluate the consumer's history in the market, the status of their CPF or CNPJ, their habits and the existence of pending issues in their name, for example;
· Check registrations. Having a customer database is essential to reinforce the security of online operations. In this regard, having access to an updated consumer register, in which it is possible to check the veracity of the information provided at the time of a purchase, for example, is another strategy to reduce risks when selling. Registration confirmation can easily identify fraud attempts, signaling suspicious situations, such as discrepancies in customer data with those contained in other reliable databases;
Invest in anti-fraud solutions layered: there is no silver bullet that works for all cases. Therefore, it is important to equip your business with cutting-edge technologies that, combined, help to shield all stages of your customer's journey.
