Brazilian authorities investigate separate fraud schemes

Law enforcement agencies in Brazil are investigating two distinct fraudulent activities involving financial institutions and social security benefits.

In one case, former Banco do Brasil managers are under investigation for allegedly embezzling over R$ 4 million. Investigators report that the suspects used privileged access to client data, including information from deceased individuals and INSS beneficiaries, to issue new cards and withdraw funds from approximately 63 accounts. The scheme reportedly operated between 2023 and 2025, with the financial losses borne by the bank.

Separately, the Federal Police launched Operation Alter Ego in Paraíba to investigate a social security fraud. An elderly woman is suspected of using a false identity for more than a decade to illicitly receive the Continuous Cash Benefit (BPC/LOAS). This specific fraud is estimated to have cost public funds more than R$ 108,000. Authorities have authorized search and seizure warrants, the freezing of bank accounts, and the lifting of banking secrecy to advance the investigation.