The Brazilian Federal Revenue Service and the Federal Police (PF) launched today (28) the Hidden Circuit operation to combat crimes that used crypto to try to evade the tax authorities.
The action is an offshoot of Operation Mobile, which began in April 2024 and resulted in the arrest of transporters of goods, mainly electronics, without paying the taxes due.
PF launches operation Hidden Circuit. Criminals used crypto assets. source: PF
According to authorities, the criminal organization is involved in the illegal import, transportation, storage and sale of electronic products from Paraguay. The organization operated mainly in Goiânia (GO), Anápolis (GO), Palmas (TO), Manaus (AM) and Confresa (MT).
Losses to public coffers could exceed R$80 million per year
So far, the operation has resulted in the seizure of goods valued at around R$10 million. However, no one has been arrested. In addition, the PF operation claims that crypto influencers were promoting courses on social media to teach how to import products without paying taxes and avoid inspection by the authorities.
image/source: Brazilian Federal Revenue Service
According to investigations by the Federal Police and the IRS, cryptocurrencies were used in an attempt to evade taxes and identify the perpetrators. The criminal organization has a structure with specific functions, allowing it to carry out illicit activities in a coordinated manner.
The companies identified move large amounts of money, mainly using cryptocurrencies to facilitate illegal transactions and launder the proceeds obtained from crimes. It is estimated that the losses to the public coffers could exceed R$80 million.
The article PF investigates use of crypto for illegal electronics trade was first seen on BeInCrypto Brasil.