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Money Laundering Defense Attorney in Brazil

money laundering defense in brazil

Money laundering is typically recognized as the process of making earnings from illegal activities look legitimate.

Money laundering also occurs in money transfers that do not follow the regulatory rules in Brazil. Brazil has an extremely regulated banking system. Brazil regulatory system has two main goals:

  1. Deter money laundering
  2. Make sure all money-transfer taxes are paid

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+55-11-4349-1915 Brazil
+1-212-300-7174 USA
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Methods of Money Laundering Common in Brazil

Some of the most common methods of money laundering in Brazil

1. Cable Dollar or “Dólar Cabo”

“Dólar Cabo” is probably the most common way of money laundry or illegal transfer of funds in and out of Brazil. Dólar Cabo occurs when a party in Brazil joins an accomplice abroad to give the Brazilian party access to US dollars abroad in exchange for access to Brazilian Reais to the party abroad.

In other words, there is no actual remittance or movement of funds and the parties “exchange” the currencies in place.

2. Structuring

Structuring means that fraudsters use multiple accounts or people to move money in smaller quantities to avoid been detected.

3. Bulk Cash

A bulk case involves moving large quantities of physical cash avoiding deposit and detection in a bank. The use of bulk cash is the main option of organized crime in Brazil as well as corrupt politicians.

4. Cash Intensive Business

In Brazil, businesses handling large amounts of cash such as bars, restaurants, and liquor stores may be used to deposit and legitimatize money coming from criminal activities.

5. Trade-based Laundering

Trade-based laundering occurs when parties operate with under or over-valuing invoices to disguise the movement of money.

6. Shell Companies

Shell companies in Brazil may be used to justify the remittance and movement between Brazil and other countries.

7. Digital Electronic Money such as Bitcoins

The exchange of bitcoins and other digital money has been used to circumvent the processes in Brazil to record money transactions and collect taxes.

Attorney Consultation
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Schedule a Consultation Now

Money Laundering Defense Law Firm

When a party is charged with money laundering in Brazil, a law firm experienced with money laundry should be hired.

Attorneys specializing in money laundering defense can properly advise and represent clients been charged with such crimes.

To learn more about our money laundering defense services, contact us today for an initial consultation.

Attorney Consultation
+55-11-4349-1915 Brazil
+1-212-300-7174 USA
Schedule a Consultation Now