Brazil’s Crackdown on Illegal Digital Banks in a Multibillion Money Laundering Probe

Brazil’s Federal Police have launched a probe into illegal digital banks involved in a money laundering scheme. Dubbed “Operation Concierge,” this investigation focuses on a criminal group that operated covert accounts within the formal banking system. These accounts, hidden within legitimate banks and approved by Brazil’s Central Bank, processed a staggering R$7.5 billion (approximately $1.36 […]