Follow CriptoFacil on
Google News CriptoFacil

In the second half of 2023, the Securities and Exchange Commission (CVM) and the Brazilian Association of Financial and Capital Market Entities (ANBIMA) joined forces again to study the vulnerability of Brazilians to scams involving cryptocurrencies. The experiment, a kind of educational prank, exposed the fragility of investors and highlighted the importance of raising awareness about financial fraud.

The strategy was simple but effective: create a fictitious company website simulating the offer of investments in cryptocurrencies. The offer promised astronomical profits and unrealistic guarantees. Without mentioning that it was a simulation, the page was active for four months, attracting more than 170 thousand visitors, coming from online ads and social networks.

Following the model of the first test, carried out between November 2022 and February 2023, the fake broker’s page showed clear signs of possible fraud. Promises of risk-free profits, grammatical errors in texts, and encouragement of financial pyramid schemes made up the scenario. Furthermore, crucial information such as the company’s CNPJ was missing.

Alarming results

The report released by the CVM on Wednesday (15) revealed an alarming statistic. Almost half of the visitors to the fictitious website showed an interest in investing, showing a significant predisposition to fall for financial scams. In the first edition of the experiment, this number was around 49%.

When clicking on any link on the page, visitors were redirected to educational content, warning them of the possibility that they had been victims of a scam. Furthermore, the website also provided guidelines to avoid similar situations.

Given the results, Marcelo Billi, Superintendent of Sustainability, Innovation and Education at ANBIMA, highlights the importance of recognizing the signs of possible financial fraud. He emphasizes the need to research formal and authorized financial institutions before investing any amount.

The CVM also reiterates the importance of monitoring authorized participants in the capital market, providing free consultations on its website. ANBIMA complements it with a public list of associated companies that adhere to its self-regulation codes.

Education against financial scams needs to be a priority

Nathalie Vidual, Superintendent of SOI/CVM, highlights that the educational initiative demonstrates the long way to go to raise awareness among Brazilians about the prevention of financial fraud. Therefore, according to Nathalie, the theme will be central to National Financial Education Week 2024, highlighting the importance of educational activities promoted by various institutions.

Furthermore, due to the intense rains affecting the state of Rio Grande do Sul and the public calamity situation recognized by the Federal Government, the theme of SENEF 2024 was adapted to “Financial Protection and Solidarity with the Brothers of Rio Grande do Sul”.

Follow CriptoFacil on
Google News CriptoFacilGoogle News CriptoFacil


Leave a Reply