In large part due to its success as a fintech hub. Pix has five times more transactions per month (3b) than all cards combined. This bonanza has attracted cyber-criminals. Their main weapon has been the “banking trojan."
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Why is Brazil a hotspot for financial crime?
"In 2023 Brazil’s banks spent $9b on cyber-security, nearly double the amount in 2019, according to the Brazilian Federation of Banks."
