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COAF applies fines for the omission of suspicious transactions

The Financial Activities Control Council (“COAF”), the agency responsible for monitoring and preventing money laundering practices, applied fines totaling BRL 55.7 million to companies operating in the financial and luxury sectors throughout 2024. These sanctions were...

ANPD launches Guidance for DPOs | What do you need to know?

On Thursday 19 December 2024, the National Data Protection Authority (ANPD) published the Guidance for...

GUIDE ON THE REPORTING OF DATA SECURITY INCIDENTS

This Guide was prepared by the TMT and Privacy and Data Protection team at Azevedo Sette Advogados to serve as initial guidance for a Controllers decision regarding the report of a security incident to the National Data Protection Authority...

The Superior Court of Justice (STJ) rules that electronic signatures outside the ICP-Brasil system are valid

In a ruling by the 3rd Panel in REsp 2159442/PR (2024/0267355-0), the Superior Court of Justice (STJ) recognized the validity of an electronic signature made through a digital platform not certified by the Brazilian Public Key Infrastructure...

BETs that have not submitted Authorization Requests in Brazil shall be prohibited from operating starting October 1st, 2024

On September 17, 2024, Ordinance SPA/MF 1,475/2024 came into effect, outlining the conditions and deadlines for compliance adjustment, until December 31, 2024, for legal entities engaged in the fixed-odds betting lottery format, commonly known as...

Brazil’s data protection authority (ANPD) regulates the international transfer of personal data

As of August 23, ANPD Resolution CD/ANPD 19/2024 has come into effect, under which ANPD has approved the International Data Transfer Regulation and the content of the standard contractual clauses. This topic is one of the items in Phase 1 of ANPD’s Regulatory Agenda for...

The Legal 500 | TMT Country Comparative Guides 2024

Our senior partner and leader of the TMT - Telecommunications, Media, and Technology team at Azevedo Sette Advogados, @barretto.ricardo, is the exclusive author of the Brazil Chapter in "The Legal 500: TMT Comparative Guide," with contributions from Ingrid Bandeira Santos,...

Financial Activities Control Council (COAF)

Recent COAF decisions in two Administrative Sanctioning Processes (“Decisions”), published on June 25, 2024, imposed million-dollar fines on the Brazilian subsidiary of an international conglomerate in the luxury market. The penalty was motivated by non-compliance standards...
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