Why is it so hard to send money to Brazil?｜. Banks in Brazil face fines in the hundreds of thousands of reais if such wire transfers are not heavily scrutinized and documented.Brazil has a history of extreme regulation of money entering and leaving the country

Why is the process of sending money to Brazil particularly challenging? Is it due to the stringent regulatory framework in place? I understand that Brazilian banks risk facing hefty fines, reaching hundreds of thousands of reais, if they fail to conduct thorough scrutiny and documentation of wire transfers. Does this indicate a history of extreme regulation surrounding the inflow and outflow of funds in Brazil? Could you elaborate on the reasons behind this regulatory approach and its impact on international money transfers to the country?