The Brazilian government, through the Prizes and Betting Secretariat of the Ministry of Finance, has issued a new ordinance that establishes stricter rules for financial institutions and payment institutions regarding their dealings with illegal betting companies. The measure seeks to crack down on unauthorized operators and protect consumers from potential fraud.
Key points of the new regulations:
- Prohibition of accounts and transactions: Financial institutions and payment institutions will not be allowed to maintain transactional accounts or process deposits or payments for betting operators that lack proper authorization.
- Reporting obligation: Institutions must report any suspicious activity related to illegal betting to the Prizes and Betting Secretariat within 24 hours, including details such as the tax identification number and company name.
- Reinforcement against illegality: The measure complements other government actions, such as the blocking of websites and illegal advertising, to prevent unauthorized operators from accessing financial resources.
- Regulatory compliance: The new ordinance does not exempt institutions from complying with existing laws and regulations on money laundering prevention and terrorism financing.
- Sanctions: Failure to comply with these rules could result in inspection processes and sanctions for the institutions involved.
- Identification of legal operators: The regulation specifies that only websites with the ".bet.br" domain are authorized to operate fixed-odds betting in Brazil.
18+ | Juegoseguro.es – Jugarbien.es
