The Defense of Licensed Remittance Channels

Articles, Issuances and Papers on the Brazilian Parallel Market


Bank of America Acknowledges Illicit Funds Moved Through a Manhattan Branch
September 28, 2006... By David Cay Johnston... NY Times

October, 2006
The Road Ahead: Opportunities and Challenges in the Money Transfer Industry

Paul Dwyer, CEO, Viamericas

August, 2007
U.S. Money Transmitters in the Brazilian Doleiro Currency Market
Paul Dwyer, CEO, Viamericas

19 Arrests for Tax Evasion and Doleiros

October, 2008
MSB Industry Pushes Regulators to Address Brazilian Currency Transmitters

March 16-17, 2010
The Evolution of the Brazilian Foreign Exchange Regulations (in Portuguese)
Geraldo Magela, BCB

August, 2012
Financial Transfers of Individuals From the USA to Brasil
Maurício Fernandes Leonardo Júnior

March, 2014
MTRA Releases Industry Guidance Relative to Money Transmission to Foreign Countries
Mar 31, 2015 - MTRA Web.Org - MTRA - The purpose of this industry guidance is to clarify the due diligence and record keeping requirements relative to money remittances to foreign countries. The MTRA is a national non-profit organization dedicated to the efficient and effective regulation of the money transmission...

The Brazilian Association of Service Providers for Micro Money Transfer ( ABMTransf )
Professional association that brings together companies in the industry with a mission to help make it more affordable, convenient and safe activity for all operators , regulators and service users.

Brazilian Payment Authorities

September, 2009
Brazilian Payment System
Department of Banking Operations and Payments System - DEBAN
(Departamento de Operações Bancárias e de Sistema de Pagamentos)

2008 to 2012
Banco Central de Brasil 
For all Rules and Regulations on Exchange Operations and Foreign Exchange Dealers, including rules that apply to Banks, see under section: "Cambio e Capitais Estrangeiros."

Please note that only providers listed on this site are authorized to conduct foreign exchange transactions as payout correspondents. Don't forget to check the sites below, when reviewing your EDD folder on your Brazilian correspondents and counterparties. If their names do not appear listed there, they are breaking the law, and you are helping. -ed.

Financial Institutions and Other Intermediaries Authorized In Brazil

Institutions Authorized To Deal in Foreign Exchange by the Central Bank of Brazil

Instituições Financeiras e Outros Intermediarios Autorizados no Brasil

March 18, 2013
Regulation Of The Foreign Exchange Market And International Capital

International Capital and Foreign Exchange Market Regulation

April 1, 2013
Cartilha de Cambio

Handbook for Small Foreign Exchange Transactions.

Title 1, chapter 1, items 25 and 26 of the Brazilian  International Capital and Foreign Exchange Market Regulation - RMCCI - issued by the Central Bank of Brazil

Links related to the Brazilian's Foreign Exchange Market Regulation.