Brazil’s central bank is set to tighten cybersecurity regulations across the country’s financial system after a surge in cyberattacks raised concerns over digital infrastructure vulnerabilities. The bank’s supervision director, Ailton Aquino, said the regulator is finalizing a new round of measures aimed at strengthening oversight of digital operations and third-party service providers. Speaking at a press conference in São Paulo, Aquino confirmed that 68 cyber incidents were reported through October, including 37 cases of fraud. That figure marks the highest number of reported attacks since the central bank began tracking such activity in 2018, surpassing the 59 total cases recorded in all of last year. The findings were included in the bank’s latest Financial Stability Report released earlier in the day, which highlighted rising operational risks linked to rapid digitalization in the country’s financial ecosystem.
Aquino emphasized that the regulatory agenda remains focused on safeguarding the resilience of Brazil’s banking network. He cited the growing importance of oversight on Application Programming Interfaces, or APIs, which serve as secure bridges enabling different financial platforms to interact automatically. The central bank is finalizing rules for direct connections to the national financial network to ensure consistent protection against breaches and data manipulation. Aquino said these regulations are expected to be released soon and will establish stricter security standards for both banks and technology partners. He added that recent incidents have demonstrated the growing complexity of cyber threats, requiring more robust supervision of external providers that handle sensitive banking data. By tightening regulatory protocols, the central bank aims to reduce vulnerabilities in an increasingly interconnected financial system.
Brazil’s financial sector has undergone a rapid shift toward digitalization in recent years, particularly with the success of its instant payment system, Pix, which now processes billions of transactions annually. While this modernization has enhanced financial inclusion, it has also expanded the attack surface for cybercriminals targeting consumers and institutions. The central bank has been issuing successive regulations to adapt to the digital transition. In September, it announced new security requirements for financial institutions, and earlier this week it implemented rules governing crypto assets to strengthen anti-money laundering measures and fraud prevention. These developments signal a coordinated effort to ensure that Brazil’s financial innovation remains anchored in strong governance and cybersecurity oversight. Regulators believe that establishing stricter digital standards will not only enhance trust in financial technology but also protect consumers and maintain systemic stability as Brazil’s digital economy continues to expand at record pace.
