Key Documents

July 9, 2012

June 9, 2003

March 3, 1998

October 8, 1998

January 10, 2001

June 11, 2003

November 19, 2001

Important Facts

The U.S. State Department identifies Brazil as a major money laundering jurisdiction. It is a major drug-transit country, as well as one of the ten largest economies in the world. Money laundering in Brazil is primarily related to transnational criminal activities, in particular drug trafficking, corruption, organized crime, gambling and trade in various types of contraband. Illicit networks in the Tri-Border Area which Brazil shares with Paraguay and Argentina provide financial support to Hezbollah, a U.S. Department of State-designated Foreign Terrorist Organization and a U.S. Department of the Treasury Specially Designated Global Terrorist. Brazil is also one of the world’s largest drug consumer countries. Money laundering methods include the use of banks, real estate, and financial asset markets; remittance networks; shell companies; phantom accounts; illegal gaming; informal financial networks; and the sale of cars, cattle, racehorses, artwork, and other luxury goods. In addition, criminals use foreign tax havens to launder illicit gains. Drug trafficking organizations are tied to black market money exchange operators. In large urban areas, laundering techniques often involve foreign bank accounts, shell companies, trade-based money laundering and financial assets. In contrast, in rural areas, the use of promissory notes and factoring operations are more common. Brazil maintains comprehensive know your customer and suspicious transaction report regulations.

-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rank : 78/141

Score : 5.02/10

Rank : 94/179

Score : 38/100

Rank : 73/133

Score : 52/100