HomeBRAZILOPERATION HYDRA TARGETS FINTECHS USED FOR PCC MONEY LAUNDERING

OPERATION HYDRA TARGETS FINTECHS USED FOR PCC MONEY LAUNDERING

The Public Prosecutor’s Office of São Paulo and the Federal Police launched Operation Hydra on Tuesday (25/02), targeting financial companies 2GO Bank and Invbank. Authorities allege that both fintechs served as instruments for money laundering by the First Capital Command (PCC), employing complex financial schemes to obscure the true beneficiaries of illicit transactions. The investigation revealed intricate financial engineering methods designed to funnel criminal proceeds through these platforms.

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