TWO YEARS AFTER NEW BRAZIL AML LAW, PROGRESS COULD BE BETTER
June 8th, 2014
IN 2012, after years of delays, Brazil instated a new money laundering law, finally bringing this economically vibrant and influential country more or less in line with international standards. Two years later, what difference has it actually made? Brazil’s first official money laundering law (Law 9613) was enacted in 1998. However it was deeply flawed – being limited in scope (for instance not allowing for asset forfeiture) and imposed tough evidentiary standards. Ultimately did very little to deter money laundering. The results have been expensive. ...
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