Central Bank orders banks to warn their customers about fraud involving Pix; understand

Last Tuesday (26), the Central Bank (BC) published new transparency rules related to Pix. Financial institutions are now required to notify customers when their data has been exposed.

BCB Resolution No. 342 determines that all account holders involved in any controversy involving the leak of information must receive contact from the bank.

Communication, therefore, is mandatory, even if the Bank is not responsible for releasing the content. “The BC assesses that this commitment to full transparency has brought numerous benefits to society”, says the BC statement.

Understand the Central Bank’s decision on Pix

According to the determination, the change becomes mandatory, as it is the bank that has a “secure channel of communication with the customer, accessible exclusively through personal identification, such as password, biometric recognition, etc.”, says the BC in note.

Furthermore, the Resolution guarantees that the warning needs to occur in any type of situation, even if they are not high risk or the leaked information is not that important.

(Image: disclosure)

This changes the BC's form of guidance, which previously followed the General Data Protection Law (GDPR), responsible for establishing communication only in cases of high risk or damage.

Financial institutions that do not comply may be punished

The new Resolution also guarantees that the BC will be able to apply punishments to financial institutions that do not follow the minimum security requirements — the penalty will be based on the effects caused.

Therefore, in the case of transactions with Pix and their possible incidents, the greater the impact, the more severe the penalty.

O central bank made it clear that, in the consideration, it took into account non-compliance with standards and the repercussions generated by this.

In cases of data leaks linked to the resource, the fine calculation will cover the number of Pix keys affected by the irregularity. In other words, it is proportional: the more people impacted, the greater the fine will be.