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The attack on Twitter this week, that resulted in the takeover of a number of high-profile accounts, including Bill Gates, Barrack Obama, Elon Musk and Joe Biden, illustrates how easy it can be for fraudsters to take over accounts. Even with multiple layers of security, accounts are vulnerable to backdoors that fraudsters exploit.

WhatsApp is estimated to be used by 1.5 billion people worldwide and one of the most important markets for the app is Brazil, where the app is used by 99% of the population. The recent news that the app would offer a peer-to-peer money transfer feature in Brazil was unquestionably, groundbreaking. Especially since Brazil is a country with 45 million economically active people, with one third of the population, without a bank account. The news was however short lived, since recently, the Central Bank of Brazil suspended WhatsApp as a payment method.