Brazil
Regulatory framework
Introduction
Brazil, as is the case with other countries in its environment, also includes in its legal system provisions on the prevention of money laundering and terrorism financing. The key standard is the Law No. 9613 of March 3, 1998. This is supplemented by the resolutions issued by the Financial Activities Control Council.
Financial Intelligence Unit
The Brazilian Financial Intelligence Unit was conceived in Law No. 9613. This law has been amended over time, naming its Financial Intelligence Unit as the Conselho de Controle de Atividades Financeiras.
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Obligated subjects
The legal framework of Brazil in terms of preventing money laundering and terrorist financing establishes certain people and entities as obligated subjects based on the economic activity they conduct.
Among these subjects, credit institutions and banks, insurance companies, cryptocurrency trading platforms, crowdfunding platforms, as well as lawyers and tax advisors stand out.
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> PEPs
Introduction
The regulatory framework for politically exposed persons is provided by the prevention laws and the resolutions of the Conselho de Controle de Actividades Financeiras — COAF —. Of particular relevance is the Lei Nº 9613 of 3rd March 1998 Dispõe sobre os crimes de "laundering" or concealment of assets, rights and values; the prevention of the use of the financial system for the illicit activities provided for in this Law; creates the Conselho de Controle de Actividades Financeiras and the COAF Resolution Nº40 of 22nd November 2021.
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Definition of PEP
Brazil considers the following as politically exposed persons:
- Those holding elective mandates of the Executive and Legislative Powers of the Union.
- Occupants of positions such as Minister of State or equivalent; president, vice-president and director, or equivalents, of entities of indirect public administration, as well as senior management and advisory positions.
- Members of the National Justice Council, the Federal Supreme Court, the Superior Courts, the Federal Regional Courts, the Regional Labour Courts, the Regional Electoral Courts, the Superior Labour Justice Council and the Federal Justice Council.
- Members of the National Public Ministry Council; the Attorney General of the Republic; the Deputy Attorney General of the Republic; the Attorney General for Labour; the Attorney General of Military Justice; the Deputy Attorneys General of the Republic and the Attorneys General of Justice of the states and the Federal District.
- Members of the Federal Court of Accounts.
- Members of political parties.
- Governors, state and Federal District secretaries; state and district deputies.
- Presidents of justice, military, accounts or equivalent courts of the State and the Federal District.
- Mayors, councilors, municipal secretaries, as well as presidents of municipal accounts courts.
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Duration of PEPs
When politically exposed persons have ceased to carry out their duties, the obligated subjects will continue to apply the measures planned for this type of clients for a minimum period of five years.
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Included lists
PEPs
- Portal de transparência do governo do Brasil
- Website da Câmara dos Deputados do Brasil
- Web do Departamento de Engenharia e Construção do Exército do Brasil