Fraga defends more flexible account inviolability

BRAZIL - More flexible rules for breaking bank account inviolability, allied with a solid international cooperation among banks and government financial institutions, is a fundamental weapon to combat money laundering in the world, according to Central Bank president Arminio Fraga.

"I have absolute conviction that with the next five to ten years, we are going to have a veritable revolution with respect to privacy and inviolability. The flexibilization of these rules is inevitable," he said. Fr