Brazil’s mission “Operation Compliance” on crypto money laundering

The Brazilian police authority is running a Investigation to bust all kinds of crypto related crimes including money laundering activities.

Recent records show a huge surge in crypto related crime activity seen in the whole world. But here Brazil is facing significantly more problems because of crypto money laundering.

Related: Brazilian Police seized $33M Crypto, Investigation Under Money Laundering

So, The Brazilian Federal Police launched a program against crypto related illegal activities. The name of this program is “Operation Compliance”. 

Under this program, around 150 federal police officers are involved. The police officers have the right to seize and block the illegal crypto related transactions. Even they have the full right to freeze the bank accounts of criminals, so that they can catch criminals easily with full access to high level controls.

“The Federal Court in Goiás, which also issued 30 court warrants to block current accounts and cryptocurrency wallets, in addition to breaking the confidentiality of those investigated with the brokers.”

After this operation, they executed Operation in 34 cities across the country. No official announcement of any seizure of crypto funds has been informed by the authorities. 

It seems that Brazilian authorities are very tensed because of the criminal activities through Digital assets use. Because we can see many cases in Brazil where huge money laundering cases are found. In a recent case, where the Investigation agency busted a crypto Exchange which was involved in Money Laundering. Authorities of Brazil seized around $33 million.

Read also: Australia may be the next to take action against Binance