Laboratories for financial analysis reveal over $9 bi embezzled

Approximately $9.3 billion may have been embezzled in seven years, according to a report drawn up by the National Network of Laboratories Against Money Embezzlement, also referred to as Rede-Lab. Figures were announced today (Aug 18) by the Ministry of Justice as part of a seminar on the cases analyzed by the association from 2007 to July this year.

Investigations covered 2,196 cases of money embezzlement, corruption, and crimes against public administration. Rede-Lab is a network of laboratories equipped with state-of-the-art technology for financial data analysis used for combating money laundering and recovering assets acquired by illicit means.

Rede-Lab is headed by the Department of Recovery of Assets and Cooperation, connected with the Ministry of Justice. In a speech that marked the beginning of the seminar on the results of Rede-Lab’s operations, National Justice Secretary Paulo Abrão highlighted the number of successful moves in the fight against corruption.

“This has helped the country in its firm and ongoing endeavors to fight corruption and demystify all the objective conditions that make it possible for organized crime to give an appearance of lawfulness to resources derived from illicit activities. That’s why Rede-Lab exists.”

Rede-Lab initiated its operations against money laundering in 2006, and includes 25 working laboratories and another 18 under construction all across the country. Some $18.8 have been invested by the Ministry of Justice. The laboratories are located in state Public Prosecution Offices, civil and federal police units, the Federal Public Prosecution Office and the Secretariat of the Federal Revenue.

Translated by Fabrício Ferreira