BC (Central Bank) will announce changes regulatory to reduce risks of attacks on the country’s payment system and curb organized crime actions using fintechs, including the creation of a Here for each transfer of resources via Pix e TEDinformed Reuters a source with knowledge of the discussions.
The plan, initially published by the newspapers O Globo and Valor Econômico, provides for the anticipation of fintech requirements and minimum requirements for the operation of institutions that provide technology for the payment system, the source said.
The municipality announced, without giving details, that its board will grant a news conference at 11am this Friday (5) on measures to reinforce the security of the national financial system.
One of the focus of the plan, according to the source, is to tighten the standards for PSTIS (Information Technology Services Providers), a category in which C&M Software and Sinqia, companies that were the target of attacks that led to millionaire resource deviations this year.
On one of the fronts, the source stated that a maximum value limit will be created for bank transfersincluding Pix and TED, a rule that will apply to operations of individuals and companies.
Without detailing the level, she stated that the value will be high enough not to disturb the routine of payments of no person or company in the country.
On the other hand, it will prevent large transfers in a single transaction, such as this year’s attacks, which moved hundreds of millions of reais. The idea is to facilitate the identification of the BC radar if criminals try to do several high operations simultaneously.
On the other hand, the new rules will require more capital and more technical capacity for technology service providers, and part of them are expected to have the ability to stay in the market.
The municipality also discusses actions to avoid the use of fintechs for organized crime, as detected by Operation Hidden Carbon, which investigates money laundering from criminal factions through accounts in payment institutions.
The municipality foresees anticipating to 2026 the fintech entry schedule, formally classified as payment institutions, in the BC regulatory perimeter, against current forecast of full implementation by 2029. With this, the monetary authority will have more power over these companies.
Another target that can be treated is the calls accounts-boltswhich are opened by fintechs on traditional banks, but with difficult tracking of the client holding the feature.
Of the measures to be announced, there are actions with immediate entry into force, such as the ceiling for transfers, but initiatives that will be valid in a second moment are planned.
In the wake of the operation against the action of organized crime in the fuel sector using fintechs, the IRS has already announced a tightening of control rules that obliges these companies to present information on financial movements of its customers.
