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System Created by the Central Bank Moves Trillions a Year with a Lean Team and Symbolic Budget, While Facing a Rise in Frauds and a Debate on Financial Autonomy to Expand Investments in Security and Infrastructure.
The Pix, instant payment system of the Central Bank (BC), moved R$ 26.5 trillion in 2024 and, between January and September 2025, totaled R$ 25.1 trillion, according to data from the authority itself.
The entire operation is maintained with an annual budget of R$ 68 million and a team of 30 employees, of which 9 work in fraud prevention.
According to information from the Poder 360 portal, the amount represents 0.0003% of the total value moved in 2024 and is equivalent to R$ 10.54 per occurrence, considering the 6.45 million frauds registered in the same year.
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Cost and Scale of the System
The Pix was created to allow for instant transfers and payments, available 24 hours a day, every day of the week.
Since its launch in 2020, the system has consolidated as one of the main forms of financial movement in the country.
According to the Central Bank, the R$ 68 million annually is allocated to the maintenance, security, and development of the platform, including technological updates and adjustments to operational rules.
Financial regulation specialists point out that the budget is low in proportion to the volume moved, but emphasize that the Pix model distributes a significant part of the costs among the banks and participating payment institutions, which are responsible for operational infrastructure, user authentication, and transaction monitoring.
Human Structure and Operational Risk
The management of the Pix is concentrated in the Department of Competition and Financial Market Structure (Decem), through the Pix Management and Operation Department (Gepix).
According to the BC, there are 30 employees allocated in the area, with 9 dedicated to fraud prevention.
For lawyer Luciano Timm, professor at the Getulio Vargas Foundation (FGV) and former national Secretary of Consumer Affairs, the reduced structure may pose an operational risk to the state.
He states that “the Union, through the Central Bank, may end up being held accountable for damages caused to victims — whether individuals or legal entities — due to potential failures in the security and supervision structure of the system”.
The BC, in response, stated that “security is one of the pillars of the Pix” and that the system relies on six dimensions of protection: user authentication, operation traceability, secure traffic, cooperation with public authorities, operating rules, and continuous dialogue with specialists.
The agency adds that financial and payment institutions must take responsibility for frauds that occur due to failures in their own risk management mechanisms.
Frauds and Improvement of MED 2.0
The increase in Pix usage has been accompanied by a rise in the absolute number of frauds.
According to the BC, 6.45 million occurrences were registered in 2024, averaging approximately 500 thousand per month.
To tackle the problem, the authority claims to have enhanced the Special Mechanism for Refund (MED 2.0), which allows for the recovery of amounts in cases of fraud, and implemented automatic blocking of Pix keys marked as suspicious.
Between January and September 2025, the request index for refunds via MED was 5 frauds for every 100 thousand transactions.
The Central Bank states that it continuously monitors these indicators and makes adjustments when necessary.
Responsibility and Oversight
The regulatory model of the Pix defines that participating institutions — such as banks and fintechs — are responsible for compensating users when frauds result from failures in their internal controls.
The Central Bank acts as a manager of the arrangement and oversight body, establishing rules, monitoring the system’s operation, and enhancing mechanisms like MED 2.0 and preventive key blocking.
Digital law specialists observe that there are judicial divergences regarding responsibility in cases of scams, especially when frauds involve social engineering or complex criminal networks.
According to these analyses, cooperation between financial institutions and security authorities is considered essential to reduce response times and improve investigations.
Efficiency and Security Challenges
The operation of the Pix with low administrative cost is seen by analysts as an example of efficiency in public management, especially in a system that moves trillions of reais annually.
Cybersecurity specialists warn that the sophistication of scams requires continuous investments and constant monitoring to maintain user trust.
Sources linked to the financial sector claim that the standardization of best practices, integration with public databases, and interoperability between anti-fraud systems can enhance protection without significantly increasing operational costs.
Central Bank Autonomy and PEC 65/2023
The discussion about Pix funding relates to the Proposed Amendment to the Constitution (PEC) 65/2023, which expands the financial, fiscal, and budgetary autonomy of the Central Bank.
The rapporteur of the proposal, Senator Plínio Valério (PSDB-AM), argues that the measure is necessary to modernize the institution and ensure self-funded resources for investments in infrastructure and personnel.
The text is still awaiting a vote in the Senate’s Constitution and Justice Commission (CCJ).
According to the legislator, “the proposal serves to shield the Pix by strengthening the BC’s management”.
Specialists in monetary policy state that, if the PEC is approved, the BC could have more budgetary flexibility to invest in strategic areas such as digital security and technological innovation.
User Security and Institutional Cooperation
The Central Bank reinforces that Pix security also depends on user collaboration.
The recommendation is to verify the recipient before confirming transfers, not to click on suspicious links, and to keep banking apps updated.
Financial institutions complement these measures with anomaly detection systems and dynamic transaction limits, which vary according to each client’s profile.
According to the BC, Pix keys associated with frauds are temporarily blocked until analyses are completed.
The agency emphasizes the importance of cooperation with public security agencies to reduce response times and prevent recurrences.
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