Social Engineering Tests Banks’ Limits in the Race to Combat Pix Scams

In an article published by Valor Econômico, our specialists examine the legal and regulatory challenges associated with Pix scams and the use of social engineering to target financial institutions and their customers.

The rise in digital fraud reinforces the need for banks, fintech companies, payment institutions and businesses operating within the financial ecosystem to enhance their fraud prevention mechanisms, transaction monitoring systems, authentication procedures, incident response protocols and risk governance frameworks.

Against a backdrop of increasingly sophisticated scams, discussions concerning the liability of financial institutions, data protection, digital security and the duty to provide information are becoming strategically important for business continuity, user trust and the mitigation of legal and reputational risks.