Brazilian betting operators notified to submit anti-money laundering policies

The Secretariat for Prizes and Betting of the Ministry of Finance (SPA-MF) has issued a formal notice to all authorized fixed-odds betting operators 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.

The notification applies to both operators directly licensed by the Ministry of Finance and those operating under court rulings. Each AML/CTF policy must outline specific criteria and actions to address potential financial crimes. The measure aligns with Law No. 14.790/2023 and SPA/MF Ordinance No. 1.143/2024, both of which mandate effective measures to prevent illicit financial activities in the betting industry. Failure to comply may result in sanctions.

The official notice also referenced a webinar held by the SPA on February 12, which focused on best practices for reporting suspicious activities to the Financial Activities Control Council (Coaf). During the session, authorities detailed procedures for reporting suspicious transactions, as stipulated 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 to Combat Corruption and Money Laundering (Enccla), an interagency initiative bringing together government entities from the executive, legislative, and judicial branches. The SPA's inclusion in Enccla underscores the government's commitment to enhancing transparency and security in Brazil’s betting market.