Annual survey involved more than 10,000 consumers and 1,000 companies in 21 countries
In 2018, 72% of online businesses in Brazil admitted increased losses due to the advance of digital fraud in their operations. This is what the Global Identity and Fraud Report shows, a survey conducted by Experian, which interviewed more than 1,000 companies around the world. Brazil appears as the third largest among those surveyed – behind only the United States and the United Kingdom. Brazil was 17 percentage points ahead of the global average (55%) of the survey carried out in 21 countries that found an increase in losses related to cybercrime in the period from January to December of last year.
“Distance interaction is a reality for digital business, which makes companies have to adapt to offer a secure environment, capable of eliminating fraud risks and using customer personal information in a transparent and intelligent way to deliver relevant online experiences”, says Eduardo Castro, Director of Decision Analytics at Serasa Experian.
More investments in security and transparency against cyber threats
Companies surveyed understand the importance of dedicating more time and resources to neutralizing weaknesses that expose their businesses to cyber threats. And they recognize the extent of the financial and reputational damage caused by cyberattacks:
• 69% of companies worldwide and 84% of companies interviewed in Brazil have a growing concern about electronic fraud;
• More than 75% of the companies participating in the survey said they are taking steps to comply with legislation and regulatory requirements to protect their customers' personal data;
• 50% of online businesses reported growth in forecasted budgets for fraud control management;
The companies interviewed also signaled the growth of investments with a focus on transparency about the use and protection of customers' personal information. The intention of the organizations is to expand this allocation of resources during the first half of 2019:
• 51% of the companies interviewed globally and 62% of the Brazilian companies invested more in actions aimed at transparency in the last six months of last year;
• 56% of the companies interviewed by the survey and 68% of the participants in Brazil said they project, for the first six months of this year, greater investments aimed at transparency.
Among the initiatives inspired by greater transparency – with the aim of increasing customer trust and generating more interactions and online business – three activities predominated in the examples mentioned by entrepreneurs: educating consumers about the use of their personal information; adopt more concise terms of use to facilitate communication; and help customers take effective control of their data.
“This year's Experian survey shows how companies already recognize security, transparency and convenience as the basis for consolidating a more reliable, dynamic and assertive digital relationship with their customers. Many organizations demonstrate that they go beyond compliance with legal and regulatory requirements aimed at managing personal data, to enable business intelligence increasingly guided by consumers' expectations and online interaction patterns”, adds Eduardo Castro.
Methodology
The 2019 Global Identity and Fraud Report survey conducted by Experian surveyed more than 10,000 consumers in 21 countries worldwide, representing 40,000 devices, 85,000 virtual accounts and more than 480,000 electronic transactions performed in the last year. annual average of US$ 3.1 billion each, totaling US$ 3.4 trillion, of which US$ 2.3 trillion was generated through digital channels.
The full text of the Global Identity and Fraud Report can be accessed through the link: https://www.serasaexperian.com.br/pesquisafraude2019.
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