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Brazil central bank proposes new anti-money laundering measures


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Brazil central bank proposes new anti-money laundering measures

Banco Central do Brasil initiated a 60-day public consultation on proposed measures to fight money laundering and terrorism financing.

"The proposals aim to improve the internal risk model of institutions, aligning Brazilian regulation with the most recent recommendations of the Financial Action Task Force," the central bank said in a statement.

The new measures will require financial institutions in Brazil to adopt procedures compatible with the degree of their exposure to money laundering risk. Risk classification categories should take into account customer profiles, partners, products and third-party service providers, among other factors.

Brazilian central bank chief Ilan Goldfajn met with FATF representatives on Jan. 17, Diário Comércio Indústria & Serviços reported.