Black Friday is winning the hearts of Brazilians: in 2018 the date registered BLR 2.6 billion in ecommerce revenue, according to Ebit|Nielsen. Many consumers wait eagerly for the last Friday of November to purchase household appliances, electronics, mobile devices, and many other product categories.
However, Black Friday also increases online fraud attempts. Criminals take advantage of the scenario to drive customers into fake sales using the boleto bancário, the second most used payment method in Brazil for online shopping.
Besides, there is another fraud that merchants, in particular, should be aware of: stock abduction. In this scenario, a competitor purchases a large number of items using the boleto bancário. As the payment day is usually set to expire within a few days, transactions are not confirmed immediately. Also, most boleto payments are confirmed within three business days. Both factors combined mean the parcel is not immediately released for delivery and shows as unavailable for other customers. Ultimately, the stock is retained, and the competitor can sell their products to the same target audience.
Ralf Germer, CEO, and co-founder of PagBrasil spoke to CBN about this criminal practice and advised businesses on how they can protect themselves. Click here and listen to the interview (in Portuguese).