Banking fraud rises in Brazil via social engineering and fake identities

Financial institutions in Brazil are facing increasing challenges from sophisticated social engineering scams. A report from Santander regarding the first half of 2026 highlights that fraud involving fake websites, WhatsApp, and social media are among the most reported types of crime. Fraudsters are impersonating companies, family members, and bank employees to steal personal data or induce unauthorized transfers.

Santander is responding to these threats by expanding the use of preventive alerts and additional confirmation mechanisms for sensitive transactions. The bank is investing in technologies such as machine learning, behavioral biometrics, and real-time transaction analysis to combat increasingly personalized attacks, including fake customer service centers that use WhatsApp to simulate security validations.

In a separate legal development, the Court of Goiás ordered Bradesco to indemnify a customer in Goiânia after a scammer impersonating a bank manager induced the victim to authorize a R$ 53,000 loan. The court ruled that the bank must cancel the debt and pay R$ 10,000 in moral damages, noting that the fraudulent activity deviated significantly from the customer's typical monthly transaction patterns.