(Bloomberg) — Banco do Brasil SA accused allies of former President Jair Bolsonaro of trying to destabilize the state-owned company by publishing false claims about its finances and urging customers to withdraw their money.  

In a complaint filed with the attorney general’s office, Banco do Brasil said Bolsonaro’s son Eduardo and others were warning on social media that the bank will be banned from the global SWIFT payments system, while others said there had been a run on Banco do Brasil Americas, a US firm it controls.

Banco do Brasil said in a statement Friday that it will seek “adequate legal measures” to protect its reputation, without directly mentioning the social-media posts or its AG complaint.

“The bank conducts business in total compliance with Brazilian law and complies with rules from the more than 20 countries in which it is present, and to international standards for the financial system,” the bank said.

Banco do Brasil’s complaint also flagged a video posted by Eduardo Bolsonaro on his YouTube channel, which alleged that the company will be isolated from international markets because of Magnitsky Act sanctions, which enable the US to target foreign officials it accuses of corruption and human rights abuses.

According to the bank, the right-wing federal representative Gustavo Gayer and others are among those who have been using their social-media accounts to spread false information, according to a copy of the complaint that was seen by Bloomberg News.

Representatives for Gayer and Eduardo Bolsonaro didn’t immediately respond to requests for comment.

Customers have been asking for clarification after seeing the social-media posts, according to the company, which said the false claims have the potential to destabilize the Brazilian financial system by hurting local banks’ reputations. The bank’s complaint includes examples of posts on X, the Meta-owned Threads social network and YouTube.

Banco do Brasil declined to comment Monday. The bank’s shares fell 0.9% at 11:20 a.m. in Sao Paulo, to 20.32 reais.

Most of the posts refer to a decision by Supreme Court Justice Flavio Dino, who ruled last week that judicial and executive orders from foreign governments must be approved in Brazil in order to be effective in the country. 

The ruling followed US government sanctions against another Supreme Court justice, Alexandre de Moraes, under the Magnitsky Act, because of his decisions against Bolsonaro in a trial centering on Bolsonaro’s alleged coup attempt. Banco do Brasil handles the Supreme Court’s payroll, and Eduardo Bolsonaro said keeping Moraes’ account there could make the company a target of the Trump administration.

Throughout the weekend, officers at the bank posted the statement released Friday on their social networks, including LinkedIn.

Brazil Finance Minister Fernando Haddad said Saturday that Banco do Brasil is under attack from Bolsonaro allies, according to local newspaper Valor Economico. He also said delinquencies in the bank’s agribusiness portfolio are rising because of coordinated political actions, without presenting evidence.

–With assistance from Daniel Carvalho.

More stories like this are available on bloomberg.com