Overview

• Coaf’s financial intelligence report sent to the CPMI do INSS details R$1.017 billion in receipts and R$1.015 billion in payments by Contag from May 2024 to May 2025.
• The report highlights red flags including operations in border-region municipalities using travel cheques, transfers to unidentified third parties, a concentrated R$46.4 million deposit in April 2025, and large long‑term fixed‑income investments deemed incompatible with declared income.
• Contag’s declared 2023 revenue was R$507 million, far below the recent flows flagged by Coaf, with data drawn from its Banco do Brasil account maintained since 1976.
• Contag is already under Federal Police scrutiny in Operação Sem Desconto and is central to the improper INSS payroll deductions issue, with 1.3 million affiliates and R$435 million in 2024 discounts; CGU previously tallied R$3.4 billion moved between 2016 and January 2025.
• In parallel coverage, a Coaf report on Conafer notes cash deposits in Pernambuco and Piauí and R$552,000 in boleto payments to third parties over a year, which the entity’s defense disputes as atypical.