Brazilian police authority investigates to dismantle all kinds of crypto-related crimes, including money laundering activities.
Recent records show a huge increase in crypto-related criminal activity around the world. But here Brazil is facing a lot more problems due to crypto money laundering.
Related: Brazilian Police Seize $ 33 Million In Crypto, Money Laundering Investigation
Thus, the Brazilian Federal Police launched a program against illegal activities related to cryptography. The name of this program is “Operation Compliance”.
As part of this program, approximately 150 federal police officers are involved. Police officers have the right to seize and block illegal transactions related to crypto. Even they have the full right to freeze the bank accounts of criminals, so that they can easily catch criminals with full access to high level checks.
“The Federal Court of Goiás, which also issued 30 arrest warrants to block current accounts and cryptocurrency wallets, in addition to breaking the confidentiality of those investigated with the brokers.”
After this operation, they carried out the operation in 34 cities across the country. No official announcement of the seizure of crypto funds has been communicated by the authorities.
It seems that the Brazilian authorities are very tense due to the criminal activities related to the use of digital assets. Because we can see many cases in Brazil where we find huge cases of money laundering. In a recent case, where the investigative agency dismantled a crypto exchange involved in money laundering. Brazilian authorities seized around $ 33 million.
Also read: Australia Could Be Next To Take Action Against Binance