Anticipation of receivables and crimes against the national financial system:

factoring and securitization activities under Law 7,492/86

Abstract

The present study aims, based on the concept of financial institution for criminal purposes, to analyze the applicability of Law 7,492/86, which protects the National Financial System, to factoring and securitization activities—operations that have been gaining more and more space on the national scene—with the aim of better understanding and delimiting the criminal contours of possible irregularities committed within the scope of the those activities. Using the deductive method, through a bibliographical review, it is concluded that securitization companies fall within the concept of financial institution despite the opposite definition brought by Law 14,430/2022. As for factoring activity, the study demonstrates that the origin of resources and operational risks differentiate it from financial institutions and, therefore, do not encompass the legal interest that is intended to be protected by Law 7,492/86—so that, in this hypothesis, the law will only apply to cases in which there is an illegal mischaracterization of such activity and the operation of a financial institution in an irregular manner.