{
  "id": 3089085,
  "title": "Social engineering behind 40% of financial scams in Brazil",
  "url": "https://urgent.news/2026/08/24/social-engineering-behind-40-of-financial-scams-in-brazil",
  "topic": "world",
  "section": "World",
  "published": "2026-08-24T18:03:00.000Z",
  "source": {
    "name": "Agencia Brasil",
    "slug": "agencia-brasil",
    "url": "https://agenciabrasil.ebc.com.br/en/geral/noticia/2026-08/social-engineering-behind-40-financial-scams-brazil"
  },
  "original_language": "en",
  "account": "Social engineering is the driving force behind 40 percent of reported financial fraud cases in Brazil. This deceptive tactic involves fake call centers, criminals masquerading as bank employees, and even counterfeit police operations designed to trick victims into revealing personal information or making transfers. A recent Quod survey reveals that over 9 million fraud instances were reported in the first half of 2026, marking a 10.26 percent increase from the second half of 2025. Social engineering was responsible for more than 3.6 million of these incidents. Cell phones are the primary tool used in these scams, appearing in 78 percent of cases, with Pix being the method in 85 percent of incidents. Social engineering preys on victims' trust and emotions, employing urgency, fear, or false authority to compel swift action. Scammers may employ various channels, including phone calls, WhatsApp messages, text messages, and emails, over several days or weeks before attempting a transfer. Artificial intelligence has heightened the effectiveness of these tactics, enabling voice cloning, image manipulation, and forged document creation. José Oliveira, director of technology at Certta, explains that social engineering targets a distinct layer compared to traditional security measures. \"Anti-fraud AI was not designed to combat social engineering; it was designed to combat fraud. These are different layers of the same issue, where social engineering targets human decision-making, while fraud targets the system, the document, and the identity.\" New mechanisms for combating fraud were implemented in 2026, such as Central Bank Resolution 501, which promotes information sharing among financial institutions on fraud indicators, and the Unified Fraud Registry (RUFRA), which aggregates data to identify patterns and bolster preventive measures. These institutions also leverage AI and behavioral biometrics to analyze factors like device usage, time, location, and transaction history. However, advances in AI have not halted the surge in scams involving social engineering. According to Oliveira, prevention should occur before any loss occurs. \"For institutions, the approach must be the opposite – i.e., using technology to recognize signs, anticipate risks, and adapt protective measures before a vulnerability turns into a loss.\" Despite this, discussions surrounding prevention remain limited. A recent Certta and Nexus survey on data intelligence found that only 11 percent of social media mentions about digital scams and fraud focus on prevention. Oliveira criticizes the public debate, which is dominated by reports of incidents and cries for help after damage has been done, and notes that Brazilians struggle to differentiate between cybersecurity and anti-fraud protection. Danilo Coelho, director of products and data at datatech Quod, advises consumers to combine technology with preventive behavior, emphasizing that nearly 78 percent of fraud cases occur via cell phones, with social engineering being the primary cause of scams. Young people aged 18 to 34 make up 49.06 percent of victims, while those earning up to two minimum wages account for 58 percent of those affected. In total, 3.1 million people fell victim to fraud in the first half of the year, with approximately 799,000 individuals being scammed two or more times. This highlights that prevention depends not only on technological investments but also on users' ability to recognize manipulation attempts before authorizing transactions.",
  "summary": "Social engineering–based scams account for 40 percent of reported financial fraud cases in Brazil. The strategy includes fake call centers, criminals posing as bank employees, and even fake police operations to convince victims to provide personal information or make transfers. According to a recent survey by Quod, a data analytics firm specializing in data intelligence for the credit market, in…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}