Anti-money Laundering Law

    Latin America

    Anti-money Laundering Law

    Law No. 12.683, of 9 July 2012 (‘Law No. 12.683’) (only available in Portuguese here) which amends Law No. 9.613, of 3 March 1998 (‘Law No. 9.613’) (only available in Portuguese hereregulates the criminal prosecution of crimes related to money laundering. 

    Last Updated: July 30, 2019

  • Requirements

    Article 2 of Law No. 12.683amends paragraph 1 of Article 1 of Law No. 9.613 defining the crime of money laundering as hiding or concealing the nature, origin, location, disposition, movement or ownership of goods, rights or values ​​arising, directly or indirectly, from a criminal offense. Under paragraph 1 of the Law No.9613, the penalty of the crime of money laundering has increased from three years to ten years, and a fine. 

    Under, Law No. 12.683, the aforementioned penalty shall also apply to the following uses of money: 

    • economic or financial activity; 
    • assets, rights or values ​​derived from criminal offenses; 
    • participation in a group, association or office having knowledge that its main or secondary activity is directed to the practice of money laundering. 

    Where the crime is committed repeatedly or through a criminal organisation, imprisonment shall be increased by one to two thirds (paragraph 4 of the Law No. 9613). However, this may be reduced by one to two thirds (paragraph 4 of the Law No. 9613)if the offender or accomplice in the crime of money laundering collaborates with the authorities, by providing any of the following: 

    • the identification of those involved; or  
    • the location of assets, rights or values which are the subject of the crime

    The punishment may therefore be reduced by one to two thirds (paragraph 4 of the Law No. 9613). 

    The Department of Federal Revenue of the Ministry of the Economy has published guidance providing further detail on what money laundering is and how it is regulated in Brazil (only available in Portuguese here). 

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