Brazil's largest drug cartel is laundering its unlawful proceedings through fintech companies, crypto, sports-betting platforms, and even public transport contracts, a new report revealed.
An investigation by Brazilian authorities unveiled an alleged scheme linking fintech company 4TBank to the First Capital Command (PCC). Police is accusing the digital bank of laundering hundreds of millions of dollars used for the criminal organization's operations, the financing of political campaigns, and integrating dirty money into legitimate business ventures.
