Brazilian Government Investigates Cryptocurrency Use in INSS Fraud, Cites Employee Involvement; Considers Ending Payroll Deductions

The Brazilian government is investigating the use of cryptocurrencies in fraudulent activities involving the National Institute of Social Security (INSS). Authorities are examining whether cryptocurrencies have been used to conceal the misappropriation of funds. In response to these concerns, the government is considering eliminating payroll deductions for INSS contributions. Jorge Messias, a government official, has indicated that the Parliamentary Commission of Inquiry (CPMI) into the INSS could hinder the reimbursement of these payroll deductions. Additionally, José Maria Trindade from the Attorney General's Office (AGU) stated that the investigation has uncovered involvement of employees from the Ministry of Social Security in the theft. The government continues to assess measures to address the fraud and potential financial impacts related to the INSS.