Attorney General affirms in Brics meeting that Brazil has been investing in improvement to prevent the use of Bitcoin and cryptomites for money laundering

The Attorney General, Augusto Aras, recently highlighted at a Brics meeting how the Attorneys of the Republic have been seeking improvement to deal with the new ‚digital crimes‘.

Among them, Aras highlighted the use of Bitcoin and cryptomites for money laundering.

Aras‘ speech was delivered during the panel „Combating the use of technologies for criminal purposes, including for the dissemination of terrorist and extremist ideologies,“ at the 4th Meeting of BRICS Chief Prosecutors.

Aras reinforced that the Office of the Attorney General has been conducting training and capacity building so that teams can deal with the new ‚plots‘ of technology such as dissemination of misinformation and fake news for manipulation of electoral processes, hacker attacks and the use of malware, as well as the use of cryptoactives for money laundering.

„Our intelligence and national security agencies are prepared and have improved risk monitoring in order to demobilize and prevent the emergence of terrorist cells or „lone wolves“ throughout the national territory. Training and capacity building also in this area, involving important international partnerships, allow the Prosecutors of the Republic and the experts of our teams a better understanding of the new challenges such as the use of cryptoactives for money laundering… In all these topics, international and inter-institutional cooperation is the key to success,“ he said.

Blockchain

Within the objective of improving ways to combat crimes such as money laundering cited by Aras, the Federal Government intends to use the main technology of cryptomoedas, the blockchain.

Thus, according to a document obtained by the Cointelegraph, the studies for the use of a system in DLT within the National Strategy to Combat Corruption and Money Laundering (ENCCLA) continue despite the crisis of the coronavirus.

Also according to the document, meetings held among ENCCLA participants have been seen as „promising“ on the use of blockchain.

The document, which the Cointelegraph had access to, is part of an Act of one of the meetings of the ENCCLA and in it the highlight on blockchain reveals the advances of the group around the technology.

„DRCI reports that in January 2020, attended the G-20 Meeting, was defined by the G-20 the charter of principles regarding the use of technologies to combat money laundering, so in the same year that the G-20 is putting the issue as a focus of its action, has also in the ENCCLA an Action on this issue. The G-20 dealt more broadly with anti-money laundering technologies and the ENCCLA specifically treated technologies as blockchain. It requests a manifestation of AGU on the work of the coordination of the Action,“ says the document.

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