Brazil’s gaming board demands anti-money laundering policies from operators

The Secretariat of Prizes and Bets of the Ministry of Finance (SPA-MF) sent a letter to all companies authorized to operate fixed-odds betting in Brazil, requiring them to present their policies for preventing money laundering and financing of terrorism (AML/CFT). Operators have until March 17, 2025, to respond to the Secretariat.

The notifications were issued to both betting operators authorized directly by the Ministry of Finance and those that operate under court decisions. Each AML/CFT plan developed by the companies must detail the criteria and actions planned for different occurrences. This measure follows the guidelines of Law No. 14,790/2023 and SPA/MF Ordinance No. 1,143/2024. The legislation requires effective actions to prevent financial crimes in the betting sector. Non-compliance with these requirements may result in sanctions.

The letter also highlights that on February 12, the SPA held a webinar on best practices for reporting suspicious activities to the Financial Activities Control Council (COAF). During the event, the procedures for reporting suspicious transactions to the Council were detailed, as established in Articles 27 to 29 of SPA/MF Ordinance No. 1,143.

Since November 2024, the SPA has been a member of the National Strategy for Combating Corruption and Money Laundering (ENCCLA), an interinstitutional body that brings together various entities from the Executive, Legislative, and Judicial powers to strengthen actions against financial crimes and improve regulation in the sector. According to a Ministry of Finance press release “the inclusion of the SPA in ENCCLA reinforces the government’s commitment to establishing a more transparent and secure betting market.”

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​The Secretariat of Prizes and Bets of the Ministry of Finance (SPA-MF) sent a letter to all companies authorized to operate fixed-odds betting in Brazil, requiring them to present their policies for preventing money laundering and financing of terrorism (AML/CFT). Operators have until March 17, 2025, to respond to the Secretariat. The notifications were issued…
The post Brazil’s gaming board demands anti-money laundering policies from operators appeared first on G3 Newswire.