Brazil (BR)

Jurisdiction Overview

IDQuestionAnswer
360 *Are there criminal sanctions, custodial sentencing or any other statutory sanctions for breaches of banking secrecy? Yes, there are prison terms for disclosing client's banking data to any third party (and possibly fines).
 Data Date: 2018

Notes

 
"The breach of confidentiality, except for that authorized by this Complementary Law, constitutes a crime and those responsible for it shall be subject to confinement from one to four years and a fine, and the applicable penalties prescribed by the Penal Code, without prejudice to other applicable sanctions" (Complementary Law. 105, Art. 10) .The 2018 Global Forum report does not add any information in this regard (GF 2018: 71)

Sources

https://www.imolin.org/doc/amlid/Brazil_CL%20105%20of%202001_Confidentiality.pdf
 
Complementary Law 105/2001, Art. 10; GF 2018: 71