Brazil tightens fintech regulations after cyberattacks expose security gaps in financial system

Brazil's central bank has tightened rules for smaller fintechs following cyberattacks and a crackdown on organized crime that exposed security gaps in the financial system. A 15,000 reais ($2,775) limit has been imposed for wire transfers, and the deadline for firms to receive authorization from the central bank has been moved up to May 2026. Larger fintechs such as Nu Holdings and MercadoLibre's Mercado Pago are unaffected.