72% of digital fraud in Brazil is due to account theft, says study

72% of digital fraud in Brazil is due to account theft, says study
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Data from a report shared this week by AllowMe, a fraud prevention platform, reveal that the invasion of digital accounts corresponds to 72% of the digital scams that take place in Europe. This information was disclosed in the document “Device Fraud Scan: How device analysis reveals the behavior of digital fraudsters”.

According to company experts, these account thefts occur in numerous ways, from the use of leaked data to the application of social engineeringa cyber crime that consists of sending emails and text messages with the aim of inducing victims to reveal confidential information.

As soon as the victim shares his personal data or installs a malicious file, the scammer will have access to the person’s main communication channels, with this the cybercriminal can obtain the security codes and cryptographic keys, allowing login to social networks, internet banking and financial applications .

According to the study, 23% of fraud attempts focus on onboarding, that is, at the time of registration or opening a new account. In total, 83% of them were completed via cell phone — an index 10 percentage points higher than that recorded in 2021 –, while 17% were completed via the web; the incidence of fraud is three times higher on computers.

This study reinforces the need for users to adopt security measures in order to prevent personal accounts from being invaded, allowing third parties to access the victim’s channels.

“Digital security education is the first step towards a safer virtual environment, both for companies and for our citizens”, says Lívia Soares, director of AllowMe Revenues.

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