Pix Security Measures Implementation for Suspected Scams

The Central Bank (BC) recently announced new Pix security measures to combat fraudulent activities. These measures include labels for marking suspicious keys, extended data query timeframes, and additional information on accounts involved in irregularities. The changes are there to take effect on November 5, as BC and participating institutions work to make the necessary adjustments.

Integrating Pix System: Security Self-Assessment

Banks looking to integrate the Pix system will have to submit a security self-assessment questionnaire. The aim is to ensure that these institutions meet the technical security requirements demanded by the Central Bank.

Suspicious Activity Tags

Starting November 5, Pix keys suspected of being involved in illegal activities will receive a label indicating the user’s activity. If a transaction appears to be an account hack, the bank can mark the reason for suspicion on the label.

Furthermore, to incorporate this new feature, there will be a notification field to fill in with the suspected illegality. Other examples of suspicious activities include scams, accounts created with false identities, or “orange accounts,” where someone enters their key for another person to commit fraud.

Pix security measures

In-Depth Insights About Pix Security Measures

The Central Bank will also provide new data for analysis by participating institutions. Among the new information is the number of accounts linked to a user, the number of account breaches, and the number of Pix system participants who accepted a suspected key fraud notification.

Moreover, institutions will now have access to data for up to five years, as opposed to the current six-month limit. Furthermore, this extended data analysis timeframe will enable institutions to gain a more comprehensive understanding of potential fraud risks.

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Conclusion

In conclusion, the new Pix security measures aim to enhance the system’s safety and protect users from fraudulent activities. By implementing these changes, the Central Bank hopes to foster a secure environment for all Pix users while continuing to improve the system’s overall security.

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