Two new regulatory instruments from Brazil's financial authorities took effect on 1 December 2025, expanding mandatory account closure obligations for banks and payment institutions operating under Central Bank of Brazil (BCB) authorisation. BCB Resolution 518 and Conselho Monetário Nacional (CMN) Resolution 5,261 together compel regulated entities to terminate payment and deposit accounts where serious information irregularities are identified or where an account holder is found to be providing financial or payment services without the required authorisation from either the BCB or the CMN.
The regulations have been framed by the BCB as a targeted measure against fraud networks and unlicensed operators that have exploited the country's payment infrastructure.
SCOPE AND COMPLIANCE OBLIGATIONS
Under the new framework, BCB-authorised entities are required to close accounts in two categories of circumstances. The first covers cases where serious irregularities are found in the information associated with an account — defined by reference to irregular CPF or CNPJ registration statuses set by the Federal Revenue Service. The second addresses account holders who are themselves providing financial or payment services without proper BCB or CMN authorisation, including using account funds to make or receive payments on behalf of third parties in ways that conceal those third parties' identity - the so-called 'contas-bolsão' (pooled accounts) the BCB said it was targeting.
The rules apply across a broad population of regulated entities, encompassing commercial banks, payment institutions, and other BCB-authorised financial service providers. Institutions must define their own documented criteria approved by the institution's executive board (diretoria) for identifying the trigger conditions and keep that documentation, and records of accounts closed, available to the BCB for at least ten years.
The closure obligation is not discretionary: once the relevant circumstances are identified, the institution is required to act.
STATED PURPOSE
The BCB has indicated that the measures are intended to protect consumers and the integrity of the payment system.