Parallel banks: fintechs linked to the PCC generated R$26 billion

The discovery of six new fintechs that acted as financial arms of the PCC were the premise of Operation Fluxo Oculto, launched by the MPSP (Public Ministry of São Paulo) through Gaeco, and by the Federal Revenue Service. This is the second phase of Operation Hidden Carbon, which investigates the activities of the criminal organization in the fuel market.

According to investigations, the scheme would have generated more than R$26 billion between 2022 and 2025. Through pocket accounts, asset shielding and cash deposits, the faction gained power by expanding its ramifications.

Operation targets new PCC scheme in the fuel sector | CNN NEW DAY

Modus Operandi
According to the Federal Revenue Service, the use of "pocket accounts" was used to receive resources in a centralized manner. In this way, the dispersion of values made tracking difficult, hiding the true recipients.

"Patrimonial shielding" was allowed by a movement called the 'opaque structure' of fintechs. The scheme takes advantage of an alleged lack of stricter compliance by these institutions, in addition to the lack of mandatory tax declarations.

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The magnitude of the problem has million-dollar contours. According to investigations, a single institution received more than R$1 billion in cash, which is considered atypical for the sector.

In total, 59 search and seizure warrants are being executed in the cities of São Paulo, Rio de Janeiro, Minas Gerais, Paraná and Mato Grosso do Sul. Among the targets are financial institutions based in Faria Lima, the country's financial center.

See which companies were targeted in the operation:

- Ceopag Payment Institution, Ceopar, Fundopay S.A. and Ltd.

CNN Brasil is trying to contact those mentioned. The space remains open.

Source: CNN