Zona de Azar Brasil – Brasil: SPA Notifies Betting Companies to Submit Anti-Money Laundering Policies

Brazil.- February 21, 2025 www.zonadeazar.com The Secretariat for Prizes and Betting of the Ministry of Finance (SPA-MF) has sent an official notice to all companies authorized to operate fixed-odds betting in Brazil, requiring them to submit their anti-money laundering and counter-terrorism financing (AML/CTF) policies. Operators have until March 17, 2025, to respond to the Secretariat.

The notifications were issued to both betting operators directly authorized by the Ministry of Finance and those operating under judicial decisions. Each AML/CTF policy submitted by companies must outline the criteria and actions planned for different scenarios. This measure follows the guidelines of Law No. 14.790/2023 and SPA/MF Ordinance No. 1.143/2024, which mandate effective measures to prevent financial crimes in the betting sector. Failure to comply with these regulations may result in sanctions.

The official notice 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, procedures for reporting suspicious transactions to the Council, as outlined in Articles 27 to 29 of SPA/MF Ordinance No. 1.143, were detailed.

Since November 2024, SPA has been a member of the National Strategy to Combat Corruption and Money Laundering (Enccla), an inter-institutional body that brings together various entities from the Executive, Legislative, and Judicial branches to strengthen actions against financial crimes and improve sector regulation. SPA’s inclusion in Enccla reinforces the government’s commitment to establishing a more transparent and secure betting market.

Edited by: @_fonta www.zonadeazar.com