Brazil’s new rules to curb money laundering

Brazil's new rules to curb money laundering
Photo: C Levers/Shutterstock

Brazil’s fight against money laundering hit the headlines at multiple points in 2019, first and foremost when the president’s son, Flávio Bolsonaro, became the subject of a report from the national money laundering enforcement agency (Coaf) suggesting he was involved in corruption schemes during his time as a state lawmaker in Rio de Janeiro.

The pressure on Coaf from above became significant, with the agency being handed around between cabinet ministries—from Sergio Moro’s Justice Ministry, to the Economy Ministry, and then to the Central Bank. A public consultation was launched to brainstorm new rules for the agency, with a...

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