BRASILIA – The Central Bank (BC) announced on Tuesday that financial institutions that suspect fraud may block suspicious resources from a receiving user’s account for up to 72 hours. This measure is effective as of November 16.
According to the Basel Convention, this measure will allow the financial institution to conduct a “more robust” analysis of potential fraud “which will increase the likelihood of resource recovery by paying users who have been victims of certain crimes.” The organization must notify the user who receives the ban.
Another measure announced by the jury is the obligation to notify the violation, even for transactions in which the payer and the recipient have an account at the same institution. Currently, the notification is optional.
In a note, BC explained that the mechanism allows organizations to flag a Pix key when there is a strong suspicion of fraud. This information can be accessed by any organization participating in Pix.
“This information will be shared with other organizations whenever there is a query about a Pix key, giving further benefits to the organizations’ fraud prevention mechanisms,” BC notes.
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