Phishing affects 3.5 million Brazilians in 2023: understand why

According to a study by Redbelt Security, in 2023, phishing attacks involving fraudulent messages have already affected over 3.5 million Brazilians.

But that’s not all. The research also showed that experts’ expectations are not optimistic: the number of victims is expected to be 30% higher by the end of 2024, following a 58.2% increase in detected attacks.

But do you really know how this fraud can affect—or may already be affecting—your brand?

How does phishing work?

One of the main reasons phishing attacks seem hard to detect is their high versatility. They exploit various existing formats and combine communication with social engineering, using the credibility of major brands to deceive consumers.

However, if you think that only consumers are the victims of these attacks, it’s time to reconsider. Brands also suffer significant impacts from phishing, either directly through attacks that compromise their infrastructure or indirectly by having their reputation and trust damaged.

Still, something has been catching everyone’s attention about this issue: how do these cases keep increasing if companies are now more concerned about digital protection?

Why do phishing attacks remain effective in 2024?

As mentioned above, the versatility and variety of channels used (SMS, email marketing, and social media) are key factors in the continued success of phishing attacks.

But there are other factors that contribute to the effectiveness of these scams, even in a context where concerns about digital security are high:

Sophistication of attack methods

Something we always say here at Branddi is that fraudsters are becoming increasingly sophisticated in their approaches. To do this, they use advanced automation tools and artificial intelligence to create highly convincing fake messages and webpages that accurately replicate the visual identity of major brands.

Exploitation of human vulnerabilities

Regardless of the channel used, we can say that social engineering remains the foundation of phishing attacks. With it, criminals appeal to emotions such as fear, urgency, or curiosity to prompt victims to make quick decisions, like clicking on links or providing personal information.

The idea here is to force the user into making a thoughtless decision.

Underestimation of risk

This is yet another key factor that explains this increase. After all, the vast majority of companies believe they won’t be targeted by attacks.

And it’s this false sense of security that leads to less cautious practices, such as opening suspicious emails or sharing data on unverified platforms.

Want to learn how to shield your brand and customers against phishing attacks? Follow the Branddi blog and stay informed about the world of shield marketing!