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The current Penal Code of Brazil was promulgated in 1940.

The Penal Code has two sections. The first distinguishes between felonies and misdemeanors and outlines the individual citizen's responsibilities under the law. The 1988 constitution proscribes capital punishment, except in case of war. The second section defines criminal behavior more comprehensively, spelling out crimes against persons, property, custom, public welfare, and public trust. Misdemeanors are also defined.

Law no. 10.467 of 11 June 2002 adds chapter II-A to Section XI of the Penal Code which rules on the crimes of money laundering and corruption. For instance, article 337-B defines active bribery in international bussines transactions as the "promising, offering or giving any improper advantage to a feorign public official". Traffic of influence in international transactions is also punished when any advantages are promised in exchange for influencing an official act.