HomeNEWSCentral Bank announces more security measures

Central Bank announces more security measures

At first glance, the Central Bank made an announcement on Tuesday night, the 28th, to mention new security measures for the PIX. One of the main solutions will be to block certain resources for 72 hours, in addition to a notification about suspected fraud.

What this article covers:

How will the Central Bank’s security measures work for the PIX?

First, it is worth mentioning that these measures come into effect from November 16th. Check out the new security methods below:

  • Increased accountability of institutions: the PIX Regulation informs that institutions that offer it to their customers must be fully responsible for fraud that may occur in their systems. That is, these institutions must still make use of all information that is linked to the PIX key because it is a factor to be considered for authorizing or rejecting transactions;
  • Expansion of the use of information to prevent fraud: this function allows you to consult information that has some connection with the PIX keys for security purposes. This objective will serve to feed each user’s fraud analysis mechanisms, even if they have no direct connection to the PIX;
  • Precautionary blocking: the institution may block for 72 hours if it suspects fraud. It is important that this institution communicates to the user that he would receive a transfer;
  • Additional mechanisms: institutions must bear in mind that these mechanisms must be the same as those of the Central Bank, and they will still need to check the procedures for identifying and dealing with those cases in which there may be many consultations in the PIX keys;
  • Infringement Notifications: This method will be mandatory for transactions rejected due to suspected fraud. The current institution must register markings in the PIX, CPF or CNPJ key of that user, in addition to the account number in which they suspect fraud.

Institutions need to be prepared to apply all the necessary methods to prevent any type of fraud in the PIX.

Source/Reproduction: Original

PIX is used to commit crimes

Due to its immense popularity, in July 2021 the PIX had already passed the number of transfers between DOC and TEC. In addition, the central bank states that around 73 million Brazilians had used this tool. However, due to its enormous success, it ended up attracting the dangerous eyes of gangs that exploit the PIX in order to carry out scams and steal money.

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