CMN and BC determine data sharing between banks – 05/23/2023 – Market

The CMN (National Monetary Council) and the BC (Central Bank) approved a rule to regulate the sharing of data and information between institutions, to expand the fraud prevention capacity of the National Financial System, the BC said this Tuesday (23) .

According to BC, financial institutions and others authorized to operate by the municipality will have to share data and information about fraud in the SFN and SPB (Brazilian Payment System) among themselves. The deadline for implementing the rule is November 1, 2023. All institutions will be required to share information.

“The norm will allow the improvement of the capacity of the supervised institutions of fraud prevention, as well as improve their internal controls”, said the BC in a note.

According to the BC, the norm was discussed at last week’s meeting of the CMN and seeks to reduce the asymmetry of information in accessing data and information used to subsidize procedures and controls of these institutions for the prevention of fraud, according to a note from the BC released this Tuesday. -fair.

In an interview with the press, the head of the BC’s Regulation Department, João Andre Calvino Marques Pereira, explained that the sharing of information between financial institutions will take place through an electronic system, managed by the institutions themselves.

“Often, [quando] a fraud happens, you have a criminal who deceives a person, he will try to do it in another bank too”, said Pereira. “As long as we have information to identify possible criminals, the treatment will be better.”

The minimum information to be shared involves identifying who would have carried out or attempted to carry out the fraud, description of the evidence of the occurrence or attempted fraud, identification of the institution responsible for recording the data and information, identification of the recipient account data and holder, in case of transfer or payment of resources.

According to Pereira, based on the shared information of signs of fraud, the institutions will decide what to do. “Each has its own processes, its own controls. It may even reach the possibility of ending the relationship,” he said.