Brazil Investigates Dollar Exchanges and Proposes Legislative Project to Freeze Money

Law makers and law enforcement officers in Brazil are working together in an effort to crack down on international money laundering schemes. The Federal Police began by listing exchange houses and travel agencies that operate irregularly with the dollar. They plan focuses on S?o Paulo, Rio de Janeiro and Foz do Igua?, traditionally hot spots for money laundering in Brazil. The Brazilian financial media reported on October 14, 2003 that the Central Bank had already shut down forty tourist agencies for irregular activity, including in some cases daily movements of US $1 million.