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December 13, 2022
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President of the Central Bank defends the fight against ghost accounts

President of the Central Bank defends the fight against ghost accounts

The president of the Central Bank (BC), Roberto Campos Neto, highlighted today (13) the importance of combating fraudulent bank accounts as a way to increase the security of users of an increasingly digitized financial system.President of the Central Bank defends the fight against ghost accounts

“We have greatly increased our work with banks to eliminate this type of account”, said Neto, referring to the so-called orange or ghost accounts, opened in the name of people who often ignore the fact. Such accounts are often created by criminals with the aim of moving money obtained illegally or to purchase products and services.

“Digital operations are more traceable. where is the weak link [do sistema]?? In the orange accounts, for rent”, added Neto while participating, this morning, in a seminar on security and data protection in the digital world, promoted by the portal Poder 360.

“If the accounts are all monitored, we improve the process as a whole. When we say there’s fraud on Pix, for example, it’s because someone transferred money from one account to another. Only this transfer is traceable. Soon, or the person who committed the theft, the fraud, transferred [a quantia] to her own account – which is easy to detect – or she transferred it to an orange account”, evaluated the president of the BC, assuring that the institution has projects to make digital operations increasingly “traceable”.

“Banks already invest a lot in cybersecurity and statistics show that the system is already secure, but digitalization is growing, today, almost exponentially. The number of businesses grows exponentially and the part of decentralized finance, the part of the financial system outside regulation, grows almost four times more than that which is within regulation. think they don’t exist links, connection, between what is outside and what is inside the regulation is an error. If we have a cybersecurity problem in an environment outside regulation, of large proportions, it affects the liquidity of the system and, therefore, the regulated part”, said Neto when commenting that the great challenge in terms of cybersecurity in the financial system is to think of solutions to a changing reality.

“A lot is said about cryptocurrencies and cryptoassets, but I think it goes much deeper than that. People are using digitization as a way to extract assets and I think this is the important point, a process that I think has no going back”, said the president of the BC when guaranteeing that the change of federal government will not affect the projects in progress at the Central Bank. “The bank has autonomy, and I remain in office for two more years. In addition, most of these projects are not from a president [da instituição] or your team, but the bank. The vision adopted by Central Bank staff will continue, regardless of the government.”

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