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LATIN AMERICA ADVISOR

Financial Services Advisor

A biweekly publication of the dialogue

July 15, 2026

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

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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

Featured Expert Commentary:

Pedro Fragoso PiresForeign legal consultant at Diaz Reus International Law Firm
Veronica Mayoral Law clerk at Diaz Reus International Law Firm
Amanda MattinglyFormer U.S. diplomat and founder of ACM Global Intelligence
Alexandra Solórzano Chief executive owl at Owl Consultancy Group
Raphael SoréPartner at Machado Meyer Advogados

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ABOUT THE financial services ADVISOR

Published biweekly, the Financial Services Advisor provides in-depth reporting on the financial sector throughout the Hemisphere. This reporting is complemented by a Featured Q&A, offering analysis from leading experts. Topics include banking and insurance, remittances and financial inclusion, innovations in fintech and digital payments, and anti-money laundering and other regulatory requirements. It highlights how market conditions, oversight practices, and technological developments shape financial systems and opportunities for institutions, investors, and policymakers.

The Financial Services Advisor has two companion publications, the Latin American Advisor and the Energy Advisor. 

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Professor of Political Science,
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Joyce Chang
Global Head of Research,
J.P. Morgan

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Peter Hakim
President Emeritus,
Inter-American Dialogue

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Adtalem Global Education

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US Education Finance Group

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Thomas F. McLarty III
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Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

SUBSCRIPTION RATES

The Advisor serves a range of audiences spanning Fortune 500 companies to individual readers. If you are an academic institution, nonprofit organization, or individual reader please reach out to Development and Partnerships Manager, David Mauer, for discounted subscription pricing.

Industry subscribers – the following annual pricing covers up to five readers in subscribing organization, please reach out to David Mauer for information on subscriptions including additional readers.

$3,500
The Latin America Advisor
$500
Archive access
$500
Each additional newsletter – the Energy Advisor and the Financial Services Advisor

Members of the Dialogue’s Corporate Program receive unlimited access to the Advisor publications and archive access. To learn more about the benefits of the Corporate Program, please reach out to David Mauer.

Advisor Subscription Rates
Program one-pager

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Ernesto Armenteros
Vice Chairman
of the Board, Banco de Ahorro y Crédito Unión

Michael Diaz Jr.
Partner,
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Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

 

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Manuel Orozco
Program Director, Migration, Remittances & Development,
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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

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