Criminals buy data from these orange profiles to commit fraud. Coups generated losses to the financial system of R$ 2.5 billion in 2022
An unprecedented study by Serasa Experian identified that, currently, more than 1.6 million Brazilians can be considered oranges. Orange people are those who lend (with payment or not) their personal data, such as name, CPF and bank account, so that other people register goods or move money without being identified.
THE orange bill is aimed at money laundering or illicit enrichment and is considered a crime. One of the reasons for this increase in the number of orange profiles is the difficulty of identifying these people, as their profiles resemble those of legitimate account owners or, often, are legitimate users. Of all the orange accounts, 70% are accounts leased with the holder's conscience or co-payment. The rest are victims who have their data stolen.
According to the Central Bank (BC) estimate, scams in the Brazilian financial system hit the mark of R$ 2.5 billion in losses in 2022. Due to this high value, the BC signaled in the same year that it is studying to hold banks responsible for fraudulent transactions involving 'orange bills'.
Understand who is who in the orange fraud:
Criminals: Fraudsters who entice people, buy their data and use them for illicit purposes, such as acquiring goods or loans with the intention of not paying or opening bank accounts to carry out money laundering. Fraudsters also use leaked or stolen data to create an orange account, in addition to breaking into accounts with the aim of bank fraud.
Orange friend/relative: lend their data to fraudsters, often without even knowing how and for what they will be used. There are cases where the person has their data stolen so that a friend or family member creates a bank account and moves it.
Who wants easy money: individual who sells or lends their data to be used for fraud purposes and receives benefits in return. In this case, there are two types of profiles: the data donor and the data manager.
Victim: person who had their data stolen and used to open orange activities without knowledge.
Who is most exposed to being scammed with orange beads?
Generally, the people most likely to suffer this type of scam are people with no track record in the credit market, informal workers, negative youth, the elderly, people with a low level of education and residents of regions with low infrastructure.
How do you partner with criminals?
– Opening a new account: the user lends or sells the data to the fraudster to create an account.
– Existing account: the user rents or manages the account.
– The financial movement can be carried out by the user or by the fraudster. That is, in this type of fraud, the customer of the financial institution is not always the victim, as he may be involved in the crime. The orange account is also used to issue credit cards, shop, apply for loans and transfer money of illicit origin via Pix.
“Pix has been a mechanism for orange account scams, as it facilitates the fraudster to make multiple transfers of amounts to different financial institutions instantly, which makes it difficult to track the amounts. Therefore, it is important that companies, consumers and organizations act together, with means of protection in layers, to combat fraud”, says the Director of Products of Authentication and Fraud Prevention from Serasa Experian, Caio Rocha.
How can consumers protect themselves?
1) Your data is exclusively yours.
2) Never sell your data.
3) Never allow a friend or family member to use your documents and bank account as if they were you.
4) Ensure that your document, cell phone and cards are safe and with strong passwords to access applications;
5) Register your Pix keys only on official bank channels, such as banking apps, Internet Banking or branches;
6) Do not provide passwords or access codes outside the bank's website or application;
7) Monitor your CPF frequently to ensure you haven't fallen victim to any Pix fraud.
How can companies prevent this type of fraud?
Combating this type of crime must also be done by companies, which suffer from the damage caused by scammers. “Due to the urgency of the subject, we created a pioneering analytical solution in the market that operates in different stages of the customer journey, such as opening an account, portfolio management or transaction. It is possible to use this technology to protect yourself and identify the orange, avoiding financial, reputational and possibly regulatory damages related to this type of scam without losing focus on the experience and safety of the end customer”, explains the executive.
1) Have an ongoing authentication strategy in place to identify risk profiles.
2) Validate risks when creating online accounts.
3) Manage the identification and monitoring of customer bases.
4) Do transactional management, that is, the detection of possible oranges in transactions and digital operations.
5) Check records. Having a customer database is essential to reinforce the security of online operations.
6) Consult your client's profile. Knowing the customer is undoubtedly one of the most efficient ways to avoid online fraud. When the company is able to assess the consumer's history in the market, their CPF or CNPJ status, their habits and the existence of pending issues in their name, for example. It is much easier and safer to assess the risks of an operation.
Methodology
The study is the result of cross-referencing two sets of information from Serasa Experian's databases: 1) CPF consultations carried out monthly at Serasa Experian; 2) estimate of the risk of fraud, obtained through probabilistic models developed by Serasa Experian.
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