In recent years, digital frauds have become a nightmare for companies of all sizes and industries. In 2024, the number of scams in the digital environment increased by nearly 50%, according to a survey by Veja magazine. This rise has particularly impacted sectors such as education and healthcare, which are now exposed to increasingly frequent digital risks.
Due to accelerated digitalization, the techniques used by cybercriminals are becoming more sophisticated. This increases the risk of access to sensitive data, resource diversion, and damage to corporate reputation. For this reason, companies and professionals need to stay alert to threats and adopt anti-fraud solutions to strengthen online security.
In this article, you will learn how biometrics can reinforce organizational protection, reduce the chances of fraud, and provide a safer experience for customers.
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What are digital frauds
Digital frauds encompass virtual crimes that use technological resources with the purpose of deceiving individuals or organizations. These crimes occur through emails, social media, messaging apps, and fake websites, exploiting social engineering techniques and system intrusions.
Fraudsters, aiming to capture sensitive data, obtain financial assets, or access restricted systems, impersonate recognized institutions such as banks, suppliers, and business partners. They then deceive employees and induce actions that favor the scam. These schemes increase the risk of information leaks, financial losses, and exposure of compromised credentials across different market sectors.
Most common types of digital frauds in companies
Among the most frequent fraudulent practices in corporate environments, the following stand out:
1. Phishing
This involves sending carefully crafted fake emails or messages designed to simulate legitimate communications. Scammers replicate logos, colors, fonts, and other visual elements from official communications, creating content almost identical to the original. This level of detail prompts recipients to click on malicious links and provide confidential information.
➡️ Example:
A finance professional receives a message seemingly sent by a partner bank. The content stresses the urgency of updating registration data and provides a link for “immediate regularization.” By accessing the link and filling out the form, the employee unknowingly delivers sensitive data directly to the fraudsters, who gain access to bank accounts and internal systems.
2. Ransomware
This refers to the distribution of malicious software that encrypts the company’s files after installation. Following the attack, criminals demand payment to restore access to the data. This type of action causes operational interruptions, loss of important information, and high costs during system recovery.
➡️ Example:
A customer service team tries to access contracts, tracking spreadsheets, and operational documents to continue daily tasks. Suddenly, all files become inaccessible. A message appears on the screen stating that the data has been encrypted and will only be released upon payment in cryptocurrency. Meanwhile, operations remain halted, causing financial losses and concern among employees.
3. Payment and boleto frauds
These involve the tampering of payment documents, such as bank slips (boletos), to divert funds during the payment process. Fraudsters modify payment information, redirecting money to fraudulent accounts without the responsible party noticing.
➡️ Example:
The accounts payable department receives a boleto from a known supplier with the correct amount and due date. The document appears legitimate, but the banking information has been altered by fraudsters who intercepted the communication. The payment is made, but the funds do not reach the real supplier, causing financial loss and delays in negotiations.
4. Information theft and espionage
This involves accessing confidential company data, such as projects in development, client lists, and contracts. Criminals use various methods, including system intrusions, spyware installation, and social engineering techniques, to capture valuable information.
➡️ Example:
During a business trip, an employee connects a corporate laptop to a public Wi-Fi network. Unbeknownst to the user, spyware is installed, allowing remote access to sensitive documents and data. This information may be sold to competitors or used to sabotage important negotiations, putting the company at risk.
5. Corporate card cloning
This consists of capturing corporate credit card data to make unauthorized purchases. Fraudsters obtain this information through compromised websites, cloning devices at establishments, or attacks on payment platforms.
➡️ Example:
The finance department notices transactions in different cities or even abroad, all made with the corporate card. The issue is only discovered when employees review detailed statements, by which time part of the negative impact has already occurred, and the dispute process must be initiated.
Consequences of digital frauds for companies
The consequences of digital frauds range from financial losses to damage to an organization’s reputation. In many cases, the impacts can be irreversible. Here are some examples:
- Financial losses: Fraudulent transactions, improper payments, and contract violations result in direct losses of money and company assets. This makes it difficult to maintain operations and compromises future investments.
- Reputation and trust damage: Being involved in fraud—even as a victim—hurts the company’s image and drives away clients. Loss of credibility affects business performance and hampers the acquisition of new opportunities.
- Incident response costs: The need for investigations, audits, and communication with stakeholders generates additional expenses and requires time from teams.
- Operational impacts: Operational interruptions can halt systems, prevent the fulfillment of goals and contracts, and harm relationships with suppliers. This situation can lead to debt, legal complications, and difficulties in resuming normal activities.
- Regulatory pressure and governance: Attacked companies face pressure to demonstrate compliance with regulations such as Brazil’s General Data Protection Law (LGPD). The absence of a contingency plan compromises reputation and trust with the market and regulatory authorities.
Each of these factors can trigger a chain of consequences, making recovery more difficult and costly. Therefore, investing in prevention, governance, and rapid incident response is an effective measure to protect business operations.
The best way to combat frauds
By now, you’ve probably realized how much fraud can compromise an organization’s operations and reputation. The best way to deal with online scams is to invest in team training, well-defined processes, and adequate technology.The first step is to promote continuous education and skill development for employees. Awareness programs on information security, courses on threat identification, and guidance on digital best practices strengthen any organization’s defenses.
Next, it is recommended to establish clear information security policies. Defining rules on device usage, passwords, system access, and data sharing contributes to a safer environment and reduces exploitable gaps for criminals. These policies should be periodically reviewed and communicated transparently to all staff.
Another key point involves outdated systems, which make it easier for well-prepared attackers to succeed. As frauds evolve, so must the methods to combat them. Patching an old system is not enough, the ideal approach is to modernize intelligently, without complicating the workflow for internal teams or customers. In this context, BioPass ID, through robust APIs, offers an effective solution. By connecting systems to advanced biometric identification services, such as facial recognition and fingerprint scanning, the platform strengthens fraud protection, improves user experience, and ensures full compliance with LGPD.
Why modernizing systems is important to combat digital frauds
Modernizing systems doesn’t necessarily mean large investments or unattainable technological revolutions. With biometric APIs, any company — small, medium, or large — can enhance security practically and efficiently without complicating the customer experience.
In this article, we discussed the rise of digital frauds and their impacts on companies of different sizes and sectors. We also showed how biometric APIs can boost organizational security and client trust. Digital scams are a reality and are evolving rapidly. To reduce the risk of exposure and data leaks, consider implementing BioPass ID.
Did you enjoy the content? Then also check out what a multibiometric API is and how this technology works.
