The Banco Master scandal dramatically highlighted the obsolescence of Brazil's financial regulatory framework, revealing a complex pyramid scheme operated by Daniel Vorcaro's conglomerate that exploited regulatory gaps and institutional weaknesses, involving 216 investment funds and 143 interconnected companies, leading to serious failures by the Comissão de Valores Mobiliários (CVM) and the Banco Central (BC) in oversight and governance. #BankingRegulation #FinancialScandal #FraudPrevention






