The decision made by the Central Bank in early March to periodically monitor the conduct of Pix participants to ensure that they maintain in their databases only the Pix keys in accordance with the names registered in the CPF and CNPJ databases of the Federal Revenue raised alarm bells among financial and payment institutions regarding the need to enhance their transaction monitoring tools. The reason is that the regulatory body is willing to penalize companies that do not remove from their systems keys of individuals and companies with registration statuses such as "suspended", canceled, "deceased titleholder", "zero", inapt, "lowland" and others similar to these.
Alexandre Pegoraro, CEO of Kronoos, platform that uses AI to conduct research across thousands of sources to verify the integrity of individuals and companies, states that the BC's decision requires institutions to strengthen their technological structures for monitoring transactions.
According to him, the adaptations of systems to new demands like these require financial institutions to make deep adjustments to their structures. "Every month these companies review millions of alerts related to crimes or financial fraud", with almost 95% of them being considered "not suspicious". Now, these programs will have to add new alerts about the compliance of the keys with the Revenue databases. Hence the importance of having solutions that automate and facilitate this process, but, at the same time ensuring that it is carried out quickly and safely, say.
By adopting these new requirements, the BC argued that they aim to make it more difficult for scammers to maintain Pix keys with names different from those stored in the Federal Revenue databases. In this sense, the agency itself also promises to actively work to detect Pix keys with names different from those registered with the Tax Authority, to ensure that participants delete or adjust these keys.
A note published by the agency informs that the BC also prohibited the alteration of information linked to random keys and the claim of ownership of email-type keys. People and companies that use random keys and want to change any information linked to that key will no longer be able to do so. From now on, the random key must be excluded and another one created, with the new information.
