Brazil sees rise in transactional fraud and loyalty program scams

Fraudulent transactional attempts in Brazil rose for the second consecutive month in August. According to the Equifax BoaVista Fraud Index, the fraud rate increased by 13.2% month-over-month, rising from 1.21% in July to 1.37% in August. While the total number of fraud attempts grew by 5.7%, the average ticket value dropped by 8.6%, falling from R$ 1,028.82 to R$ 940.07. This shift suggests a more fragmented approach by fraudsters, potentially testing strategies ahead of major shopping events like Black Friday and Christmas.

In a related trend, digital criminals are increasingly targeting Brazilian consumers through loyalty program scams. Fraudsters use phishing tactics, sending urgent messages via SMS, email, and social media claiming that reward points or miles are about to expire. These messages direct victims to fake websites designed to steal personal data, credit card information, and passwords. Security experts note that these campaigns use high-pressure language to prevent victims from verifying the legitimacy of the contact.