In a bid to combat the rising incidence of PIX scams, the Central Bank of Brazil (BC) has directed banks to implement an alert system to notify customers of potential fraudulent transactions. The measure, which is expected to take effect in 2025, aims to provide an additional layer of protection for users of the instant payment system.

The alert system will monitor PIX transactions and identify suspicious patterns, such as large or unusual transfers to unfamiliar accounts. When such activity is detected, the bank will send an immediate notification to the customer via SMS or email, alerting them to the potential scam. Customers will then have the option to cancel or block the transaction if they suspect foul play.

The BC emphasizes that the alert system is not intended to replace existing security measures but rather to complement them. Banks are still responsible for implementing robust fraud detection and prevention systems, while customers are advised to remain vigilant and report any suspicious transactions to their bank immediately.