The Central Bank of Brazil (Banco Central, BC) has announced the launch of a new system designed to block the opening of fraudulent bank accounts, particularly those created using stolen CPF numbers. Scheduled to be implemented in December 2025, this service will allow individuals to authorize or deny the opening of new accounts in their name, enhancing protection against identity fraud. Banks will be required to consult this system before opening accounts to verify the legitimacy of applicants. This initiative aims to improve financial security and reduce fraud cases involving personal identification. Meanwhile, in India, the Reserve Bank of India (RBI) has proposed amendments to simplify the reactivation of dormant accounts and streamline claims for unclaimed deposits, allowing banks to use business correspondents and video-based customer verification. Additionally, the Indian government is considering doubling the bank deposit insurance limit from ₹5 lakh to ₹10 lakh to strengthen depositor confidence and banking stability, following regulatory actions against New India Co-operative Bank.
PRA Announces Updates to Approach of Responsible Openness to International Banks https://t.co/QkzmOSNMLO | by @SkaddenArps
Novo sistema do BC deve ajudar na proteção contra golpistas que usam CPF roubado para fraudes https://t.co/858dRFOvkq
BC lança novos serviços para reforçar segurança e facilitar a vida financeira do cidadão https://t.co/oP9t4Zn7rd https://t.co/vBeY74ljss