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Discover Nubank’s new strategy to prevent customers from falling for virtual scams

Discover Nubank’s new strategy to prevent customers from falling for virtual scams

Discover Nubank’s new strategy to prevent customers from falling for virtual scams

With the continuous development of fraudulent techniques in the digital environment, a common strategy among fraudsters is to create fake websites that mimic real financial institutions. In this way, criminals trick users and steal data and money from their bank accounts. However, Nubank is working to combat these practices and announces a new security measure.

This fintech giant has obtained dozens of URLs, which criminals often use to carry out scams. These addresses, such as nubankbrasil, nubanks, wwwnubank, will now be redirected to Nubank’s security portal. Therefore, when they try to enter one of these addresses, users will be redirected to a secure platform.

What is Nubank’s strategy to combat online fraud?

Nubank not only warns and raises awareness about these criminal practices, but also takes concrete measures to prevent fraud. The launch of its security portal is part of this strategy, integrated into Nubank’s #SeemButNoIt campaign, which also offers useful tips related to scams, how to recognize fraud attempts, and how to report them, among others.

However, at the beginning of 2023, the digital bank faced questions from the Brazilian Institute for Consumer Protection (Idec) about the number of frauds involving its application. The institute requested clarification about the measures taken by the company to prevent these fraudulent operations and what measures will be taken towards affected customers.

How has Nubank responded to security challenges?

The fraud report prompted Nubank to step up its security initiatives, send alerts and advisories to its customers, in addition to launching the new campaign. However, compared to fintechs, Bradesco, Itaú and Santander, Nubank had the highest number of complaints in 2023, the Idec report showed.

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The company responded to this revelation by claiming that the scenario in which the Idec test was conducted differed in several aspects from the situation of a real coup attempt. Furthermore, Nubank highlighted the importance of customers updating their applications, as this will ensure additional layers of protection and mechanisms to prevent the use of the Nubank application via remote access.

What does the future hold for security at Nubank?

Despite the challenges, Nubank continues to improve security measures to protect its customers from the growing wave of online fraud. Obtaining URLs commonly used by scammers is just one step in this direction. By confronting the problem head-on, Nubank reaffirms its commitment to protecting customers from the risks that come with the use of digital financial technologies.