Brazil to be Monitored by Intergovernmental Financial Organization

Posted on March 18, 2013 • Filed under: Brazil, Crime, Organized Crime

On March 18, 2013, O Estado de Minas reported that officials from the International Financial Action Group (GAFI), an intergovernmental body created to monitor financial activity throughout the world, will be going to Brazil in June to do a study on the country’s financial and legal system.  GAFI also made a visit in 2010, in which it noted Brazil’s gaps and flaws in the legal system.  It was also critical of Brazil’s tendency towards money laundering, a crime also noted by current President of the Supreme Federal Tribunal, Joaquim Barbosa.  According to the administrative head of the Justice Department, Paulo Abrão, money laundering is most common on the borders and in the major cities, mostly in the informal economy.  Read Article

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