Nu, part of Nubank (NYSE: NU), has received the Fraud Prevention stamp, an initiative coordinated by the National Confederation of Financial Institutions (CNF) in Brazil.
Launched in 2024, the certification recognizes “institutions committed to best practices in preventing, combating, and raising awareness of fraud and scams in the financial sector.”
This achievement is a testament to Nu’s continuous “use of technological solutions, robust security policies, and awareness initiatives to ensure the protection of its more than 118 million customers — over 104 million in Brazil alone.”
Emma Whitfield, Head of Fraud said:
“Security has been non-negotiable for Nu since day one. Receiving the CNF’s Fraud Prevention stamp strengthens the trust of customers, partners, and investors in the security of our operations. It is also a recognition of our efficiency and fraud prevention mechanisms beyond what is established in regulations, which we understand as the minimum necessity. Additionally, it positions Nu as an industry best practice in the financial sector due to its robust controls and processes.”
Nu offers several security tools to protect its customers, and the main ones are:
- Verified Call (Chamada Verificada): This feature allows customers to verify on the app’s home screen if a call they receive is indeed from Nu.
- Street Mode (Modo Rua): A security feature in the app that allows customers to set transaction limits for Pix payments, TED, and boleto when their devices are not connected to a secure Wi-Fi network.
- Protected Call (Alô Protegido): This feature automatically blocks suspicious phone calls from fake customer service centers, preventing scams.
- Reporting Channel: Enables customers to report fraud or scam attempts that improperly involve the company’s name.
- “I Got Stolen” (Me Roubaram): An exclusive website for Nu customers that allows them to quickly and securely block their cell phones and cards in case of theft.
- Security Hub: A comprehensive hub that offers educational content about fraud attempts, password theft, credit card cloning, scams via Pix or WhatsApp, and even cell phone theft.
- Protection Pack: A set of tools that work simultaneously to protect money and transactions.
- Smart Defenses: A system that uses data to identify atypical user behaviors, enabling Nu to protect customers against attacks. For example, when a suspicious credit card charge appears on the statement or when a message is received in the app asking to confirm a transaction, it might be artificial intelligence issuing alerts or blocking operations to prevent unauthorized transactions.
