According to reports from Reuters, 105 arrest warrants were issued after a four-month investigation which unveiled an $44 million operation that involved hacking into people's bank accounts.
The raid, known as Operation Pegasus, was carried out by 410 police officers in seven states.
Police in Brazil are working hard to repair the damage caused by Brazil's increasing reputation as haven for online crime. In March SC reported Brazilian federal police arrested a man suspected of being one of the world's biggest phishers. Valdir Paulo de Almeida allegedly masterminded a $37 million phishing operation.
In February SC interviewed the Brazilian author of the proof-of-concept Lasco and Gavno mobile phone worms that proved viruses can do damage to mobile phones. Marcos Velasco claimed he did not create his viruses to cause widespread damage.