Brazil banks are quietly studying Mexico after the US labelled crime groups PCC and CV terrorists, a move that threatens their access to American finance.
US designates Brazil's PCC and Comando Vermelho as terrorist organizations; banks learn from Mexico's experience with US sanctions. Dollar flows trigger US compliance exposure; Mexican banks lost system access after tainted handling, forcing lenders to act early.
Business · Brazil
Key Facts
—The move. Brazilian banks have quietly reached out to peers in Mexico for advice on a new American rule.
—The trigger. Washington has labelled Brazil’s two biggest crime groups, the PCC and Comando Vermelho, terrorist organizations.
—First-ever. They are the first Brazilian groups ever placed in the same legal category as ISIS and al-Qaeda.
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