Cyber incidents (attacks) have been increasing in recent years, and this is a risk that keeps the Supervisory Director of the Central Bank, Ailton Aquino dos Santos, awake at night, as he himself stated on Wednesday (12), during the presentation of the Financial Stability Report (REF) for the first half of the year.
According to him, the structures of BC and Pix are “perfectly working” and “flexible,” but there is concern about oversight of third-party services and those provided through application programming interfaces (APIs). “(Cyber incidents) generate losses in some cases and for some institutions,” Aquino warned.
According to the survey presented this morning, there was an increase from 24 cyber incidents in 2023 to 59 incidents in 2024. At the last update in October 2025, British Columbia had already recorded 68 such incidents this year, according to the director.
According to Aquino, this survey shows that some financial institutions show weaknesses related to basic controls in providing their services, while criminal groups have “advanced knowledge” about the operations of the national financial system.
Regarding the high-profile cases this year, Aquino stated that “it is clear that the recent incidents at C&M and Sinqia were more forceful and of high significance.” He also commented, “We learned from the C&M event, from the Sinqia event, to give you an idea, the recovery level was 90%.”
The BC Director also stressed that this concern is not limited to British Columbia. “Third-party services relate not only to the Brazilian banking supervisor, but also to the American, French and German banking supervisor. This topic is on the agenda of our international discussion forums.”
According to Aquino, BC has taken several measures to mitigate cyber risks in the financial system and is working to strengthen its supervision and monitoring teams.
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