Businesses must invest to avoid orange accounts and Pix scams

Businesses must invest to avoid orange accounts and Pix scams

Pix Moves and Orange Beads: Combat tools have several flaws. Know more!

Estimated reading time: 3 minutes

The technologies have been used in favor of security by various companies and financial institutions. In recent years, modern and sophisticated systems have helped to combat fraud, especially those involving orange accounts and Pix scams.

From the point of view of the experts interviewed by Valor Econômico, the use of various identity verification technologies, greater data sharing and a more agile response to fraud reports are some attitudes that financial institutions must adopt to avoid scams with Pix and the expansion of orange accounts.

For a report by Valor Econômico, the director of cyber intelligence at Axur, Thiago Bordini, pointed out that, although there are different tools to validate if a code is safe, it is always possible to find primary flaws even in the applications from more mature institutions. .

Besides the authentication failure, Bordini also highlighted other business vulnerabilities, such as the lack of more assertive tools to identify fraud and orange accounts.

“Today, all Pix and other scams result in an orange bill. If the financial institution has a process that makes it easy to detect or contain transactions quickly, it’s much easier,” said the expert.

Orange accounts are fake accounts opened by criminals using victims’ personal data to receive money from other people who are also victims of crime. This type of action can, for example, leave an individual in debt if the criminals take out too many loans.

In scams that use Pix, scammers use so-called social engineering, an action in which victims are deceived and, using the personal data transmitted by her, are able to transfer values ​​through Pix.

The Central Bank wants to make Pix safer

Central Bank President Roberto Campos Neto said he wanted to hold accountable financial institutions that have accounts opened by criminals in the name of customers, the so-called “orange accounts”. The objective is to decrease the number of moves involving the Pix.

During a public hearing at the House of Commons Consumer Protection Commission, Neto said BC would ‘tighten as much as possible so that banks don’t have the capacity to host an ‘orange account’ or an intermediary account”.

Finally, the president of the Brazilian entity also pointed out that the BC will start a process in which financial institutions will be held responsible if a Pix fraud is carried out and they have an orange account.

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Image: Pira25 /

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