Brasil: Ordinance Requires Banks to Report Suspicious Transactions
Brasil.- 15 de Abril de 2025 www.zonadeazar.com The law regulating betting houses in Brazil already prohibited banks from operating accounts for illegal companies. However, in March this year, the government issued an ordinance requiring financial institutions to notify the ministry if there is suspicion about any account, whether it belongs to an individual or a legal entity.
According to Dudena, with the ordinance in place, financial and payment institutions are now expected to strengthen their oversight.
Banks, fintechs, and other financial or payment institutions must notify the SPA within 24 hours of any suspected use of accounts for illegal betting activities.
The communication must include the account holder’s data, transaction information, and actions taken, such as account blocking or closure. “The idea is to surround illegality from all sides to protect the popular economy,” said Dudena.
Furthermore, the National Association of Games and Lotteries (ANJL) is also testing systems to forward information to the secretariat. Around 10,000 illegal betting sites have already been identified.
Institutions that fail to comply with the ordinance may face penalties, including warnings, fines of up to R$ 2 billion, and bans from participating in government bids.
Legal Betting Houses Protect Bettors
Régis Dudena stated that the active involvement of banks and other financial or payment institutions in identifying accounts linked to illegal betting platforms is not meant to punish players, but to protect them. This is because, according to him, the general public still does not fully understand that online betting is intended solely for entertainment.
Estimates from the Central Bank indicate that Brazilians spend between R$ 20 and R$ 30 billion per month on online betting. This information was disclosed by Central Bank president Gabriel Galípolo and the institution’s executive secretary, Rogério Lucca, on April 8 during a hearing of the Senate’s CPI on Betting.
Thus, the CPI was launched at the end of 2024 to investigate the “influence of virtual online betting games on Brazilian family budgets,” as well as the possible link to criminal organizations involved in money laundering.
Sector Drives the Brazilian Economy
According to Dudena, the fixed-odds betting sector has already generated around R$ 2 billion in licensing fees for the government. Additionally, each license costs R$ 30 million and allows up to three brands to operate.
Editó: @_fonta www.zonadeazar.com