BRZ FIU Money Laundering Framework

On Mar. 13, BRZ FIU amended anti-money laundering standards.

  • BRZ FIU reported National council of justice amended anti-money laundering standard.
  • Amendments were spurred from last round of mutual evaluation of the Brazilian AML/CTF system that was conducted by the FATF-GAFI in Oct 2023, see rule #196003.
  • Amendments
  • National council of justice (CNJ) published Provision No. 161, of Mar. 11, 2024, to update provisions on duties to prevent money laundering and financing of terrorism.
  • Proactively acted to implement the new standard, which brings as main improvements the review and update of communications frameworks between BRZ COAF, BRZ FIU.
  • Also updated procedure on monitoring, selection, analysis of occurrences that can be reported to COAF, strengthening internal controls for activities carried out by notaries.
  • Effectiveness
  • The amended standards come into force on May 2, 2024.

Regulators BRZ FIU
Entity Types B/D; Bank; BHC; BS; IA; Ins; Inv Co; MSB
Reference PR, 3/13/2024; RF DJe/CNJ 47/2024, 02572/2024 3/11/2024;
Functions AML; Anti-Bribery; Compliance; Legal; Operations; Reporting; Sanctions
Countries Brazil
Products Banking; Deposits; Fund Mgt; Insurance; Loan; Payments; Securities
Regions Am
Rule Type Final
Rule Date 3/13/2024
Effective Date 5/2/2024
Rule Id 204444
Linked to Rule :196003
Reg. Last Update 3/13/2024
Report Section AML & Enforcement

Last substantive update on 03/15/2024