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LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

July 14, 2026

What Must Brazilian Banks Do to Avoid U.S. Sanctions?

Brazilian banks have reportedly reached out to counterparts in Mexico to determine how to avoid U.S. sanctions after the U.S. designation of two Brazilian crime organizations as terrorist groups. // File Photo: Larysa via Adobe Stock.

Q

  • Brazilian banks have reached out to financial institutions in Mexico to determine how to navigate the U.S. designation of two Brazilian organized crime groups as terrorist organiza tions, Bloomberg News reported June 22. Banks in Brazil have grown concerned that the recent U.S. designations of Primeiro Comando da Capital (PCC) and Comando Vermelho (CV) could lead to scrutiny of Brazilian financial institutions, similar to last year’s targeting of Mexican firms that were accused of laundering drug proceeds, the news service reported. The report came ahead of sanctions that the U.S. Treasury’s Office of Foreign Assets Control (OFAC) announced on July 1 against three Brazilian companies, two Brazilian nationals and a Portuguese company over their alleged links to the PCC. What does the U.S. designation of the Brazilian gangs mean for Brazilian lenders, and what must they do to avoid sanctions? To what extent will the U.S. action lead Brazilian banks to overhaul compliance procedures? What can they learn from Mexican firms’ recent experience?

A

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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E. gkuleta@thedialogue.org

Carl David
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board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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