BCB Publishes New Prudential Rules for Payment Institutions
By: André Jerusalmy The Central Bank of Brazil (BCB) has published new prudential rules applicable to payment institutions (“IP”), based on public consultation number 78, made available in November 2021. Just like the latest news brought by the BC, this one is no different and aims at the same principles: agility, efficiency, competitiveness and bureaucratic unblocking. […]
Fraud in payment slips does not generate liability for the bank due to lack of evidence that data was improperly used
By: Leonardo Neri At the end of 2021, a court ruling on fraudulent bills brought to light the issue of banks’ liability in these cases, which resulted in a series of criticisms on social media from people who did not agree with the decision that exempted a banking institution from liability. The judge of the 1st […]
Personal data from PagSeguro in conjunction with WireCard were exposed on hacker forums and raises the issue of the legal limits of innovation
Electronic payment systems have been on the rise in recent years, pushing physical currencies into the background and, as a result, increasing the digital linkage of payments. As a result, the number of scams against banking companies has been increasing. On November 4th, it was PagSeguro’s turn to suffer the so-called registration hijackings, whose […]
Resolution regulates rules for relationships between consortium customers and payment institutions
By: André Jerusalmy On October 13, Bacen approved resolution BCB No. 155/21, which establishes the principles and procedures that financial institutions and consortium administrators must have towards their clients. Consortium administrators and payment institutions must develop and implement an institutional policy for relationships with […]
