Legal Risks and Document Fraud in Brazil: real experience from chats
Short answer
Forgery of documents is a criminal offense in Brazil punishable under the Penal Code and carries severe legal risks. While some fintech services like NG Cash and Infinity Pay may allow account opening with only a CPF, these platforms often suffer from instability, making them unsuitable for storing large sums of money.
From real experience
The practice of document forgery, such as photoshopping utility bills or identification documents, is discussed among expats in Brazil, often in the context of opening financial accounts.
While some view it as a common workaround, it is crucial to understand that document forgery is a criminal offense in most countries, including Brazil (referencing articles 298, 304, and 299 of the Brazilian Penal Code). Using altered documents for official submissions can lead to severe legal consequences.
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The ability to open fintech accounts (e.g., NG CASH, PicPay) in Brazil without a permanent residency document (RNM) is inconsistent.
While some users report that these services now strictly require RNM, others have successfully opened accounts using only their CPF (tax ID). The process appears to be subject to 'Brazilian random' outcomes, and travelers should be prepared for varying experiences.
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NG Cash can be opened by tourists in Brazil using CPF.
While convenient for payments, it is not recommended to store large sums (e.g., $1000-2000 USD) due to potential server issues and tourist status. Top-ups can be done via Bybit Pay (Bybit app: Bybit Pay option). Use it for immediate payments rather than long-term storage.
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Infinity Pay in Brazil allows for quick online account opening, but users report intermittent account blocking.
It is recommended not to store significant amounts of money in this account due to stability concerns.