Army accredited Banco Master and transferred R$39 million in payroll loans, says newspaper
The Army accredited Banco Master to operate loans granted to military personnel and transferred around R$39 million to the institution in just over a year, according to a Folha de S.Paulo report published this Sunday (19).
According to the newspaper, the amounts correspond to discounts made directly from the paychecks of active and reserve military personnel to pay for credits granted by the bank, which belonged to Daniel Vorcaro.
The information is contained in a Coaf financial intelligence report, sent in March to the Organized Crime CPI in the Senate. The document points to possible signs of irregularities involving the destination of resources.
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Among the points mentioned are the immediate debit of amounts after receipt by the bank and the concentration of resources in the same ownership, which, according to the report, can make it difficult to identify the final beneficiaries.
The accreditation contract was signed in February 2023 and had an initial duration of one year, but was extended by amendments. The partnership was terminated in November 2025, following the bank’s liquidation by the Central Bank.
In a statement, the Army stated that there was no damage to public coffers, as the amounts are of a private nature, referring to discounts authorized by the military themselves. The Force also said that it only acts as an operational intermediary, making transfers to accredited financial institutions.
The Air Force also maintained a similar contract with Banco Master, but did not detail the amounts involved. The Force only reported that there were transfers in 2024 and 2025, interrupted after the liquidation of the institution.
