Brazil: Combating corruption and money laundering

Brazil has recently witnessed a crackdown on corruption. However, despite the

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Since Brazilian president Dilma Rousseff was elected in January 2011, the country has witnessed a concerted crackdown on corruption which culminated in the country’s largest corruption investigation into Brazilian’s political elite, leading to the supreme-court trial of the mensalao (big monthly stipend) – one of the biggest cases to be heard in Brazil since the end of the military dictatorship in 1985. As part of her anti-corruption initiative, Rousseff amended the existing AML legislation in mid-2012.

Despite the enormous and remarkable progress being made in Brazil in dealing with corruption,the country continues to remain high risk with regards to the risk of corruption and continues to warrant a high level of customer due diligence, especially when undertaking business in Brazil or with Brazilian entities.


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