Banco do Brasil has asked Brazil’s Attorney General’s Office to act against the spread of false information on social media, warning that the material could trigger panic among depositors and threaten the country’s financial system, CNN Brasil reported.
In a letter sent to the AGU, the state-controlled lender said the circulation of misleading content began on August 19.
One example cited was a video posted the following day by federal deputy Eduardo Bolsonaro (PL-SP), who claimed the bank “will be cut off from international relations, which will lead to its bankruptcy.” Bolsonaro has more than 1.7mn subscribers on YouTube.
The bank also pointed to content shared by congressman Gustavo Gayer (PL-GO) and lawyer Jeffrey Chiquini. According to Banco do Brasil, the material encouraged mass withdrawals without any factual basis and amounted to an attempt to provoke a run on the bank.
“The new strategy consists of coercing, threatening and placing financial institutions that are part of the National Financial System, notably Banco do Brasil, against the Supreme Federal Court,” the letter said.
Banco do Brasil urged the Attorney General’s Office to take legal measures to curb the dissemination of disinformation, safeguard financial stability and protect democratic institutions.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
PIX faces US scrutiny as Brazil embraces system
Brazil’s instant payment platform PIX has become the country’s dominant payment method, processing about $7 trillion in transactions last year, while drawing attention ... more
Brazil’s Itaú holds profit outlook
Itaú Unibanco reported first-quarter net income of BRL12.28bn ($2.49bn), broadly in line with market expectations, while maintaining its guidance for 2026 and signalling ... more
Brazil eyes new credit push
Brazil’s government is studying new lending measures aimed at consumers outside the scope of the Desenrola debt renegotiation programme, Treasury Secretary Rogério Ceron ... more