The Brazilian Institute for Consumer Defense (Idec) notified Nubank after it accessed reports from customers who said they had “suffered scams through the bank’s app.”
In the document, the institute reported how fraud works and questioned how the company ensures the safety of people, Idec said in a statement on Monday 10.
According to Idec, in recent weeks, several reports have been on social networks, complaint platforms, and the government website accusing the lack of security in the Nubank application.
“People claim they had their account hacked by a hacker program, loans made in their name, and large amounts of money transfers to other accounts.”
“In seconds, consumers saw resources saved for years going away to the account of criminals,” according to the institute.
Idec also says that the main criticism of the victims is that Nubank does not have or does not use a system that blocks transactions that deviate from the standard account.
The institute reported that the bank pronounced itself on the matter through an alert sent to its customers’ email earlier this month.
“According to the statement, fraudsters can perform bank transfers after the consumer downloads pirated applications, which allow third parties remote access to the victim’s cell phone.”
Nubank denied that there was a security flaw in the bank’s app.
Nubank currently has about 70 million customers in Brazil.
The bank said it cooperates with the responsible authorities for consumer care.
“We reaffirm our commitment to protecting our customers by maintaining constant vigilance over our services, including the development of protection tools to assist users in preventing and inhibiting scams.”
With information from Revista Oeste
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