Fraud in electronic commerce quadruplicated in Latin America

According to survey Brazil is the most affected country in the region, followed by Argentina, Colombia, Mexico and Chile

Frauds in electronic commerce quadruplicated in Latin America in 2013 reaching US$ 430 million. According to a survey published by the Latin America and Caribbean Network Information Centre (LACNIC), Brazil was the most affected country.

Following Brazil, the most affected countries were Argentina, Colombia, Mexico and Chile. Also according to the study, in Latin America 80 thousand bots are active and can send malicious files. 44% of them were found in Chile, 15% in Peru and 11% in Argentina.

“The magnitude of cybercrime in Latin America is really worrying, with attacks becoming increasingly sophisticated and causing serious consequences to the population”, remarks release of LACNIC, institution headquartered in Montevideo, Uruguay.

The authors of the study, Patricia Prandini and Marcia Maggiore, say that the crime with greatest economic impact is called phishing, theft of digital identity that enables the identification of credit cards and bank accounts passwords. This type of crime increased 20% above the global average of last year in the region. According to the survey the growth of domains used for this activity doubled in Latin American, in 2013.

As pointed out by the release of LACNIC, with the fast technological development of the countries in the region and the growth of internet crimes is now indispensable to create action plans that enable safer operations. allpago already provides its clients with advanced anti-fraud technology. Please contact us if you want to receive more information about our solution.

About allpago international

allpago international provides a full-spectrum of payment services in the LATAM region. allpago works as a payment gateway, a white label payment service provider (PSP) or a product and service reseller for merchants and payment service providers interested in the LATAM markets.

allpago’s features include one-click payments, recurring payments, instalments, dynamic descriptor and mobile payment solutions. The company’s html 5.0 code allows multiscreen and is as easy to implement into the store through the “plug and pay” feature. Furthermore, the company offers a fully integrated Risk Management Solution with more than 70 checks. allpago has recently become the first LATAM payment solution provider of the Merchant Risk Council (MRC).

Current clients include Art.com, Busuu.com, McAfee, Teamviewer, Twoo.com and many other leading payment or digital companies from various sectors.

Reference:

http://oglobo.globo.com/economia/defesa-do-consumidor/fraudes-no-comercio-eletronico-quadruplicam-na-america-latina-11711332

Image courtesy of Stuart Miles / FreeDigitalPhotos.net