RegAlert2026-09-23 | Resolução BCB 588Added · Updated
Resolution BCB No. 588 — Amends Circular No. 3,978 of January 23, 2020 Regarding Internal Controls for Preventing Financial System Abuse
Resolution BCB No. 588 amends Circular No. 3,978 to mandate the communication of specific financial operations to the Central Bank of Brazil. Authorized institutions must report cash payments, receipts, or transfers equal to or exceeding R$50,000.00, cash withdrawals of the same threshold, foreign exchange operations involving cash of US$10,000.00 or more, and virtual asset transfers to or from self-custody wallets valued at US$10,000.00 or more. The resolution enters into force on October 1, 2026.
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The Collegiate Board of the Central Bank of Brazil, in a session held on September 22, 2026, based on Articles 9 of Law No. 4,595 of December 31, 1964, 10, 11 and 11-A of Law No. 9,613 of March 3, 1998, 6 and 7, caput, item III of Law No. 11,795 of October 8, 2008, and 15 of Law No. 12,865 of October 9, 2013, and considering the provisions of Law No. 13,260 of March 16, 2016, the Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, promulgated by Decree No. 154 of June 26, 1991, the United Nations Convention against Transnational Organized Crime, promulgated by Decree No. 5,015 of March 12, 2004, the Inter-American Convention against Terrorism, promulgated by Decree No. 5,639 of December 26, 2005, the International Convention for the Suppression of the Financing of Terrorism, promulgated by Decree No. 5,640 of December 26, 2005, and the United Nations Convention against Corruption, promulgated by Decree No. 5,687 of January 31, 2006,
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Lineage: In force
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This document amends: Circular No. 3978 — Internal Policy, Procedures, and Controls for Preventing Money Laundering and Terrorist Financing
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works