Cybersecurity and fight against fraud on the rise in 2022, Brazilian experts say

RIO DE JANEIRO, BRAZIL – Discussions on cybersecurity and the fight against fraud should progress this year, given the increase in attacks on systems and the pressure from society for solutions, according to the experts’ forecast.

The trend comes in the wake of the Brazilian Data Protection Law (LGPD), according to Rodrigues. Although it covers personal data, it is positive for cybersecurity, because it clearly defines who is responsible for protecting the information, he says.

For researcher André Bordokan, who works in the payment methods sector, there is no silver bullet in the fight against fraud, but rather a number of elements to raise the level of confidence. He has developed a system that tries to expedite fraud detection in card transactions to cancel the operation before it is completed, in cases where the payer reports having been scammed in some way.

Bordokan says that as a transaction contains sensitive information about the payer that needs to be protected, this makes communication between the card company and the retailer more complex when it comes to verifying the report from the end customer.

Based on an algorithm, which he worked on for his master’s degree at New York University’s School of Engineering, he says it is possible to simplify this by replacing data, such as names, with a string of characters that provide an additional element to identify the transaction, with no way to reverse the string and expose the information.

The security concern became popular last year after the explosive adherence to PIX in Brazil. Months after the instant payment system was launched, a wave of frauds, scams and other crimes involving the tool led the Central Bank to change the rules in an attempt to curb criminal activity.