July 7, 2026 – By Vivienne Serrat
The U.S. Department of State’s move to designate two of Brazil’s largest organized crime syndicates mirrors what firms have previously seen with regard to policy facing Mexico, Venezuela and Colombia, Javier Coronado Diaz, a partner at international firm Diaz Reus, told Law.com.
“There is a concern on the part of the Brazilian government that those designations will be used by
the US government as a way to attack and affect business in Brazil, for instance, PIX, a Brazilian
payment system equivalent to Zelle in the US,” added Pedro Fragoso Pires, a Brazillian attorney
who serves as a foreign legal consultant at Diaz Reus.
What You Need to Know
The U.S. Department of State recently designated two of Brazil’s largest organized crime syndicates as Foreign Terrorist Organizations
The issue isn’t limited to Brazil, and it impacts businesses and financial institutions with operations related to the country.
Clients are feeling a greater sense of urgency as time goes on.
