INSS Halts Agibank’s New Payroll-Deduction Loans After Audit Flags Irregularities

Overview

• The INSS on December 2 imposed an open-ended suspension on Agibank’s ability to issue new consignado loans and referred the case to the Federal Police and the INSS Corregedoria.
• Auditors counted 1,192 contracts dated after beneficiaries’ deaths between 2023 and 2025, including 163 tied to benefits already closed in INSS systems.
• Data tests found 5,222 contracts with interest below 0.4% a month and 33,437 below 1%, which the INSS says may indicate values were recorded to bypass consistency checks.
• In a Fortaleza case on November 7, an unauthorized refinancing included seven contracts, three absent from INSS systems, adding R$17,073.94 to the balance while a recorded change of about R$17,135 was not paid to the beneficiary.
• Agibank says it was not notified in advance, maintains it uses biometric and document checks, requested access to the audit records, and pledges remediation and full reimbursement if irregularities are confirmed, noting other services continue.