by Isadora Corrêa, Vinícius Novo e Gabriel Brezinski
The term Fintech, derived from “financial technology”, refers to companies that introduce technological innovations into the financial market, offering products and services through applications and online platforms. These solutions foster competitiveness and development in the sector. In Brazil, Fintechs specialized in payments, credit, investments, and financial management – such as Agibank, Nubank, C6 Bank, and PicPay – have gained prominence.
In recent years, the number of Fintechs has grown exponentially. According to the Inter-American Development Bank (IDB), Brazil accounts for 24% of Fintechs in Latin America, leading the region. Between 2017 and 2023, the number of such enterprises increased by 340%.
Despite this growth, the expansion of Fintechs has also heightened the risks of financial and banking crimes. In 2023, ClearSale’s Fraud Map recorded nearly 4 million credit card fraud attempts. Similarly, Serasa Experian reported that, in 2024, 42% of Brazilians were victims of financial frauds. Across Latin America, 1 in 5 online transactions was deemed fraudulent, and approximately 1,600 cyberattacks occur against companies every second.
While some Fintechs are investing in cybersecurity strategies, preventive technologies – though indispensable – are insufficient in the face of increasingly sophisticated and complex crimes. It is crucial to hire specialists capable of developing not only prevention plans but also strategies for response and containment. After all, once fraud is detected, the question becomes: what next steps should be taken?
The answer lies in a multidisciplinary approach, which is essential to strengthen market and consumer confidence in the company. An effective crisis management strategy must begin with fraud detection, incorporate technical prevention mechanisms, conduct in-depth internal investigations, and present findings to the appropriate authorities. This approach not only facilitates the identification of those responsible for financial losses but also mitigates the risk of serious legal consequences, such as criminal liability for partners and employees, as well as reputational damage.
For this reason, the involvement of qualified professionals is crucial to develop robust communication frameworks between Fintechs and authorities, promoting a more secure operational environment, reinforcing confidence in the financial sector, and driving client acquisition.
