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Police said the foil suits apparently worked in hiding the men's presence from the alarms, but it did not prevent them from being spotted by security cameras.
The men were seen by camera monitors at Banco do Brasil's regional headquarters in Florianopolis and police were dispatched to the scene.
The suspects fled before they were able to break into the safe and they left behind tools including blowtorches.
Police said the two burglars and a third man accused of acting as their lookout initially evaded capture, but police made one arrest later in the day Saturday.