BCB Normative Nº 491: How Brazil Can Strengthen Pix Fraud Prevention

Did you know that 41% of Brazilians report losing  money to scams, with an average loss of R$4,784? In response, the Central Bank of Brazil (BCB) recently introduced Normative Nº 491, a set of regulations designed to reduce Pix-related fraud. These new rules fundamentally change how banks must approach security and device registration, raising an important question for every financial institution: Is your organization fully prepared for the new compliance landscape? 

This article will break down the key components of Normative Nº 491 and recommend a robust, proactive strategy for Brazilian banks to mitigate fraud risks, ensure compliance, and protect their customers’ trust.

What Does BCB Normative Nº 491  Mean for Banks and Fintechs?

BCB’s directive focuses primarily on controlling first-time and unregistered devices to prevent fraudsters from using stolen credentials or newly compromised endpoints to carry out illicit Pix transactions. The regulation introduces two key safeguards:

• Initial Pix Limits on Unfamiliar Devices:

Any device being used for the first time to initiate a Pix transaction is limited to a maximum of R$200 per transaction.

• Cumulative Daily Limits on Unregistered Devices:

Unregistered devices face both a single-transaction limit of R$200 and a total daily limit of R$1,000.

These measures apply only to devices without an established “track record” with the bank. Customers who want to perform higher-value transactions on a new device must register it in advance. The goal: sharply reduce fraudulent activity leveraging new, unverified endpoints.

The Business Case: Why Compliance Matters

Beyond meeting regulatory requirements, embracing these new measures supports the long-term health of your customer relationships and your bank’s reputation. Brazil’s scam landscape is challenging—83% of Brazilian residents report encountering at least one scam attempt per month. Aligning your compliance strategy with Normative Nº 491 not only protects customers from losses but also preserves the trust and confidence they place in your institution.

6 Key Security Rules to Comply with Normative Nº 491

To fully align with the new requirements, Brazilian banks should consider implementing the following measures:

1. Maintain a Registered Device Database

Keep a comprehensive list of devices authorized to perform Pix transactions. This database becomes your frontline defense, allowing your systems to quickly identify which devices are cleared for higher transaction limits.

2. Cross-Check Device Device Data in Real-Time

Every time a transaction is initiated, verify device details (IP address, user-agent, device fingerprint) against your registered device database. This cross-reference helps spot unapproved devices before fraudsters can do damage.

3. Enforce Initial Transaction Limits

Restrict first-time transactions from unfamiliar devices to R$200. This immediate cap significantly reduces the financial impact of a successful fraudulent attempt.

4. Set Cumulative Daily Limits for Unregistered DevicesT

Limit total daily transfers from unregistered devices to R$1,000. This additional layer slows down fraud attempts and reduces potential losses.

5. Notify Customers Securely & Proactively

If a transaction fails due to an unregistered device, promptly inform your customer via a secure communication channel (e.g., SMS, email, or in-app notifications). Provide clear instructions on how to register the device. This ensures both security and a smoother user experience.

6. Implement Stringent Device Validation Processes

Confirm the authenticity of customer responses before adding a new device to your registered database. Rigorous device validation ensures fraudsters can’t simply “opt in” after a failed attempt.

Beyond Compliance: Building a Stronger Fraud Prevention Framework

While meeting BCB’s standards is essential, true resilience against fraud requires a more holistic and forward-looking approach. Consider the following strategies to strengthen your bank’s security posture.

Deploy Advanced Device Controls

Device control measures—such as device fingerprinting and behavioral analytics—are critical. By analyzing device characteristics and transaction patterns, banks can quickly flag abnormal activity, block suspicious transactions, and keep fraudsters at bay.

Collaborate and Share Intelligence

Normative Nº 491 encourages financial institutions to use BCB’s centralized data repositories (e.g., DICT, Resolution 6 data) and fraud markers. Collaboration and data sharing allow banks to identify risk patterns early, reduce exposure, and strengthen the industry’s collective security posture.

Regularly review client data at least every six months to identify any “fraud markers” signaled in BCB’s databases. If a client has a history of fraud, consider revising your relationship terms, transaction timeframes, or applying more stringent controls.

Educate Your Customers to Strengthen the Weakest Link

Consumers often become unwitting victims of social engineering or phishing attempts. Under the new rules, you must provide accessible education about fraud risks, best practices for device security, and how to register devices properly. The more your customers know, the less likely they’ll fall prey to scams—ultimately reducing your institution’s risk exposure.

Partner with Expert Fraud Prevention Solutions

Given the complexity of emerging threats and evolving regulations, consider collaborating with a specialized partner. Look for a provider with machine learning and AI-driven solutions that can adapt to new rules, identify suspicious behavior in real time, and maintain a frictionless user experience.

A trusted partner helps you evolve beyond compliance checklists. Instead, you can focus on building a holistic, proactive fraud prevention program that meets regulatory requirements while reinforcing user trust and satisfaction.

The Bottom Line

As scams and fraud attempts grow more sophisticated, BCB’s Normative Nº 491 arms financial institutions with a clear framework to mitigate Pix fraud. By tightening device registration controls, using fraud intelligence provided by the Central Bank, educating customers, and leveraging advanced technologies, Brazilian banks can confidently secure their operations, protect their revenue, and maintain customer loyalty.

Your end goal? Move beyond mere compliance. Embrace a comprehensive, agile fraud prevention strategy that safeguards your customers, enhances their digital experience, and future-proofs your organization against the evolving threat landscape in Brazil’s financial ecosystem.