Anti-fraud service blocks nearly 13 million fraudulent purchases and avoids losses estimated at R$6.8 billion

Nearly 13 million Brazilian e-commerce fraud attempts were avoided between January and August 2022, according to the Censo da Fraude study conducted by Konduto, the anti-fraud vertical at Boa Vista, an analytical intelligence firm. As a result, around BRL 6.8 billion in online shopping and digital payment losses were avoided. The number of analyzed requests in the observed period increased by 71% compared to the same period last year. The number of “fake” purchase attempts was proportionally 4.5 times higher than that recorded in the first eight months of 2021.

During the first two quarters of 2022, the month with the highest volume of online purchase orders analyzed was May, representing 13.5% of the total for the semester, followed by March with 13.3%. Regarding the amount of fraud attempts avoided, the highest rates are recorded in January and February, with 15.1% and 17.5%, respectively, compared to the total of the first eight months.

February, on the other hand, recorded the highest financial volume accumulated in avoided fraud attempts, which represents 25.09% of the total avoided losses in the first four months of 2022. In addition, February also stands out as the month with the highest number of fraud attempts. of “fake” purchases, even though the month is shorter, with only 28 days. Thus, February, with a lower number of sales and a higher number of fraud attempts, had the highest share of “fake” purchases in relation to the total number of analyzed orders. That month, as many as 6.2% of online purchase requests were actually fraudulent attempts, compared to a four-month average of 5.3%.

Frauds are more common on weekdays

The study revealed that 78% of fraud attempts that Konduto service analyzed and avoided occurred on weekdays – from Monday to Friday. Between Saturday and Sunday (which make up 28.6% of the total number of working days) only 22% of attempts were recorded. “It is interesting for a fraudster that his action goes unnoticed by security systems. Buying on a weekday, when there is more movement, is a way of trying to camouflage. The more similar the fraudster’s behavior is to what the customer has in common, the harder it is to identify the fraud,” explains Tom Canabarro , Boa Vista’s anti-fraud director.

And the fraudster even tries to avoid the behavior of the honest customer. The time period between 18:00 and 23:00 is responsible for 34.84% of analyzed purchases and 32.64% of blocked fraud attempts. The period from 12:00 to 17:00 recorded the largest share in the total number of frauds avoided (38.08%) and was the champion in the amount of purchases (35.3%). The period in which Konduto avoided the largest financial volume of losses avoided by blocking “fake” purchases was between 12:00 and 17:00, with 44% of the total amount – although with this larger “ticket”, in that time period 38% of the number of fraud attempts.

Rio de Janeiro: Champion of scams vs. genuine purchases

In the first eight months of 2022, São Paulo and Minas Gerais had a smaller share of total fraud attempts during that period (29.2% and 11.12%, respectively) than total online orders (32.5% and 15%). Rio de Janeiro, on the other hand, participates much more in the total attempts of “fake” purchases (21.5%) than in orders (10.1%), which makes the country, proportionally speaking, the champion in fraud attempts. And Minas Gerais with 11%. Bahia and Ceará, which increased in the number of sales, recorded 5.3% and 2.9% of fraud attempts, respectively, followed by Paraná (6.2%) and Rio Grande do Sul (5.8%). “The situation is worrying in Rio de Janeiro and Ceara, which have 2.9% of total online purchases and 4.5% of fraud attempts,” comments Canabarro from Boa Vista.

Mobile devices are targets

During this period, 73% of analyzed fraud attempts originated from transactions made on mobile devices – 50.0% of them via Chrome Mobile and 19.31% via Mobile Safari. In the same way, the volume of purchases via mobile phones in relation to the total reached 69.9% of total transactions. However, when it comes to the financial volume of fraudulent purchase attempts, there is still a significant share of PCs and laptops (32%), although mobile fraudsters also dominate (68%). What may indicate an attempt to fraudulently purchase goods and services of higher value is more difficult (or less easy) to attempt via mobile phone.

BRL 1.5 billion fraud avoided on Father’s Day 2022

In 2022, in the five days preceding Father’s Day, Konduto avoided fraud in the amount of R$ 1.5 billion, an amount 85% higher than in the same period in 2021. The amount of legitimate sales, however, did not follow this growth . The number of ‘good’ purchases increased by only 23% between the two years. Even with higher sales, the number of fraudulent orders fell by 33%, (from 654,000 frauds in 2021 to 311,000 in 2022), indicating that fraudsters tried to buy with a higher ticket average.

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