Financial fraud and digital scams rise across Brazil and Portugal

Financial institutions and digital platforms are facing increasing challenges from sophisticated fraud methods. In Brazil, the judiciary is reinforcing that banks hold objective responsibility for damages caused by third-party fraud, particularly regarding unauthorized loans taken out in the names of elderly citizens using facial biometrics. Data from Febraban indicates that 39% of Brazilians have been victims of bank-related scams, a figure that rises to 44% among the elderly.

New digital tactics are also emerging, such as 'spoofing,' where criminals manipulate caller ID to appear as legitimate banks or public institutions. These scams often combine social engineering with real personal data to request fraudulent Pix transfers. Similarly, in Portugal, MB WAY has issued alerts regarding SMS and phone scams that impersonate the service to steal personal data or security codes.

In specific regional cases, criminals are using 'trust numbers' to gain access to WhatsApp and social media accounts by impersonating known contacts, eventually leading to device hijacking and financial theft.