FICO reports that during an October seminar about Electronic Crimes and Methods of Protection, the Federation of Goods, Services, and Tourism of the State of São Paulo (Fecomercio-SP) shared grim news on the state of electronic fraud in Brazil.
A survey by the agency, which consists of retailers and service companies in the state of São Paulo, found that 300,000 families had at least one member that’s fallen victim to an electronic offense. Some 14% of those surveyed had seen fraudulent charges on their credit cards, nearly 13% experienced the fraudulent use of personal data, and roughly 7% were affected by card cloning. These findings echo those from a Brazilian Banks Federation survey, which FICO had posted recently, revealed that electronic fraud losses are on the rise.
Source: FICO Finance Blog