The Secretariat of Prizes and Betting (SPA) has issued a request to all Brazilian-licensed online gambling businesses to design and submit financial compliance systems and controls.
The regulation was issued last week by the SPA, which is the regulatory authority of the Brazil Bets system, the federal framework that will regulate online gambling beginning January 1, 2025.
Licensed operators must submit individual money laundering and terrorism financing prevention strategies to the SPA by March 17, 2025.
The rule applies to both operators who have acquired their Bets licenses and those that are still awaiting final approval.
Last week, the SPA revised its licensing authorization for online gaming licences, awarding eight more complete licences to join the Bets Regime, which presently has 43 active licences.
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Operators are encouraged to describe the criteria and safeguards they have in place to detect and prevent illegal financial activity. This includes describing the procedures and controls in place to guarantee compliance with the federal government’s rigorous criteria.
The program is based on the mandates established by Law No. 14.790/2023 and SPA/MF Ordinance No. 1143/2024, which require operators to develop strong anti-money laundering and terrorist financing standards.
The SPA’s goal in implementing these rules is to protect the integrity of the online gaming market and prevent its exploitation for financial crimes.
The order applies equally to operators who have already got their Bets licenses and those that are currently in the process of being authorized.
Noncompliance with these rules may result in consequences, demonstrating the government’s commitment to ensuring a transparent and safe online gaming environment.
In February, the SPA stated that it was collaborating with appropriate authorities to create unified protections and controls against money laundering as a priority agenda objective for 2025.
In 2025, the SPA will begin its initiative to build a nationwide self-exclusion mechanism for the Brazil Bets market, with a broad consultation conducted to solicit opinion on technical needs.
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