Nubank and Itaú issue alerts to their customers who use credit cards

Itaú and Nubank recently issued an important warning to Brazilians about the significant increase in fraud involving credit cards. On July 28, 2024, both banks highlighted the increasing sophistication of the tactics used by fraudsters, making users’ attention more important than ever.

Arthur Igreja, a recognized technology expert, shared his insights on how these scammers operate. According to him, criminals use various tricks to gain the trust of victims, such as adopting the image and name of financial institutions on WhatsApp profiles and SMS messages. The abundance of personal information available on social media makes these fraudulent practices easier.

How to protect yourself from credit card fraud?

To enhance the security of its customers, Nubank recently introduced the “Verified Call” feature. This tool allows customers to verify whether a call is legitimate directly through the bank’s app. Furthermore, the “Protected Hello” feature automatically blocks fraudulent calls, providing an additional layer of security for users.

What techniques do scammers use?

Scammers use a variety of methods to trick their victims. Arthur Igreja highlights some of the most common techniques:

• Fake ID: They use the logos and names of well-known financial institutions to appear trustworthy.
• Social Media Information: They exploit personal data that is publicly disclosed on social networks to direct their attacks.
• Fraudulent Calls and SMS: They send messages and make calls that mimic official banking communications.

What are the richest banks in the world?

It is also interesting to understand the situation in a global context. According to portalinsights.com, the 10 richest banks in the world, with assets ranging from more than $100 billion to nearly $500 billion, are:

1. JPMorgan ($491.8 billion)
2. Bank of America ($266.5 billion)
3. Industrial and Commercial Bank of China ($238.1 billion)
4. Wells Fargo ($178.7 billion)
5. Agricultural Bank of China ($175.6 billion)
6. Bank of China ($169.8 billion)
7. HDFC Bank ($156.0 billion)
8. HSBC ($155.9 billion)
9. Morgan Stanley ($153.1 billion)
10. China Construction Bank ($152.1 billion)

Understanding the importance of these institutions helps in measuring the importance of financial fraud protection strategies.

How do you keep your personal information safe?

Protecting yourself from scams requires vigilance and effective security practices. Here are some basic tips:

• Avoid revealing personal information on social media.
• Use Nubank’s Verified Call and Alô Protected features.
• Be suspicious of calls and messages asking for financial information.
• Monitor your transactions regularly to identify suspicious activity.

Staying informed and acting proactively are essential steps to protect against fraud. While Itau and Nubank continue to enhance security measures, continued vigilance by users themselves is the best defense against these sophisticated schemes.