Central Bank says in note that removal was precautionary due to suspicion of undue advantages; The municipality released a note on the 3rd phase of Operation Compliance Zero
The 2 BC (Central Bank of Brazil) employees suspected of helping the founder of Banco Master, Daniel Vorcaro, arrested this Wednesday (March 4, 2026) for the 2nd time, were removed “cautiously”revealed the city hall in a note. Here is (PDF – 384 kB) the decision of the STF (Supreme Federal Court) minister André Mendonça, which ordered Vorcaro’s arrest.
They are Belline Santana, then deputy head of Desup (Department of Banking Supervision), and Paulo Sérgio Neves de Souza, who occupied the deputy head from the same department. The note released by the BC praises the PF (Federal Police) for itsthe 3rd phase of Operation Compliance Zero.
The 2 public servants of the municipality are suspected of receiving The case puts the performance of the body responsible for supervising the financial system under scrutiny and could affect regulatory credibility amid the billion-dollar breach linked to Banco Master.
According to the BC, signs of perception of undue advantages by 2 members of the permanent staff were identified during an internal review of the financial institution’s inspection and liquidation processes.
The municipality declared that it had cautiously removed public employees, restricted their access to facilities and systems and introduced correctional procedures. He also reported signs of crimes to the PF.
According to the court decision, there is evidence that both maintained an illicit relationship with the controller of Banco Master, Daniel Bueno Vorcaro, with monthly receipt of amounts through business structures used to hide payments.
The decision reports that Paulo Sérgio provided informal consultancy to the banker, with strategic guidance on administrative processes at the BC, in addition to reviewing drafts of documents that would be sent to the agency itself. The investigations also indicate the exchange of messages and sharing of sensitive information between those involved.
In the criminal sphere, the STF determined precautionary measures against the 2 public servants, such as prohibition of contact with other people being investigated, prohibition of access to the Central Bank, delivery of passports, suspension of the exercise of public functions and use of an electronic ankle bracelet. The decision highlights that remaining in the position could compromise the instruction and credibility of the regulatory body.
In its note, the BC stated that, “observing due legal process and the right to full defense”any infraction conduct will receive a sanctioning response in accordance with the law. By emphasizing collaboration with the PF, the authority seeks to signal to the market that it maintains internal control mechanisms and that it acts to preserve the integrity of banking supervision.
The 3rd phase of Compliance Zero occurs after billion-dollar blockades and preventive arrests enacted in previous stages. The outcome of the case is being followed by investors and members of the financial system, as it involves suspicions of interference in the supervision of an institution under liquidation and puts pressure on the governance of the central monetary policy body.
Read the full BC note:
“Regarding the launch of the 3rd Phase of Operation Compliance Zero, the Central Bank declares its conviction that the work carried out by the Federal Police represents an essential step towards fully clarifying the facts.
“The Central Bank informs that it identified signs of perception of undue advantages by two employees of its permanent staff, during an internal review of Banco Master’s inspection and liquidation processes.
“Immediately, the Central Bank precautionarily removed the aforementioned employees from exercising their positions and accessing the institution’s facilities and its systems, instituted correctional procedures to investigate the facts and communicated signs of crimes to the Federal Police.
“The Central Bank clarifies that, subject to due legal process and the right to full defense, the identified infractions will receive the appropriate sanctioning response, in accordance with the law.”
