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Domestic PEP dragnet widens in Brazil

Chris Hamblin, Editor, London, 8 May 2018

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The Council for Financial Activities Control, the government department primarily responsible for the fight against financial crime in Brazil, has extended the number of people to be counted as politically exposed persons.

The council first published its resolution 29/2017, which has now come into effect, in December. The international law firm of Baker McKenzie has translated it and reports that domestic PEPs (mandated by the Financial Action Task Force in 2012) will include including mayors from all cities (not only mayors of capitals), councillors (an not just the head of every city council), state representatives, the heads and treasurers of national political parties, presidents of courts and councils of municipal auditors, plus others.

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