Brazil

Conselho de Controle de Atividades Financeiras (COAF) is the national Financial Intelligence Unit of Brazil, which is a highly specialized and independent administrative authority associated with the Brazilian Central Bank (BCB). Founded on March 3, 1998, through Law No. 9,613, COAF can be identified as the frontline of Brazil in the struggle against money laundering, terrorist financing, and proliferation of weapons of mass destruction. The body functions under the authority of the collegiate board headed by President Ricardo Andrade Saadi, an experienced director of the Federal Police specializing in fighting organized cross-border crime. COAF functions as the central information hub, collecting and analyzing suspicious transaction information reported by the banks, credit bureaus, and luxury merchants. As an investigation agency, it is purely administrative in nature and cannot be considered a police or a court since it does not conduct raids and freezes of funds independently but simply analyzes the information provided and prepares financial intelligence for law enforcement and prosecution bodies

The Conselho de Controle de Atividades Financeiras (COAF) is responsible for managing and conducting Brazil's strategy in fighting money laundering, terrorist financing, and other financial crimes. This is done by analyzing suspicious transaction reports received from mandated sectors such as banks, real estate agents, and luxury goods sellers that show abnormal changes in the level of wealth or movements of assets through illegal channels. Once the specialized analysts at COAF find clear signs of financial crimes, the organization prepares its Financial Intelligence Report (RIF), which is shared with the Federal Police and the Public Prosecutors to carry out criminal investigations. Additionally, COAF controls sectors without regulatory organizations, fines non-compliant businesses, and works with international networks such as the FATF and Egmont Group.