Reports have emerged that Aparecida Schunck, 67, was taken on Friday in the suburb of Interlagos, Sao Paulo.

Her kidnappers are believed to be demanding a ransom of $AU48.75 million.

It is reportedly the highest ransom demand in the country’s history.

Schunck is the mother of Ecclestone’s third wife Fabiana Flosi who married the 85 year-old in 2012.

In 2012, a dental technician threatened to kidnap his daughter Tamara in a $AU400,000 plot.

The man was jailed for five years.