BRAZIL: New SPA-MF rules prevent bank accounts for illegal betting
The Treasury Ministry’s Prize and Betting Secretariat (SPA-MF) published, this Friday (21), an ordinance that establishes clear guidelines for financial institutions (FIs) and payment institutions (IPs). Thus, these institutions must act in relation to fixed-odds betting companies considered illegal.
Law 14,790/2023, regulated by Ordinance SPA/MF No. 566, prohibits these institutions from facilitating illegal betting. Below is the ordinance in full:
According to article 21 of Law 14.790, FIs, IPs and payment arrangement providers are prohibited from maintaining transactional accounts of illegal operators.
Furthermore, they cannot perform deposit and prize payout operations. It is important to note that transactional accounts are those that manage bettors’ money and prizes.
Furthermore, the new regulation establishes a 24-hour deadline for FIs, IPs and payment arrangement providers to notify the SPA of any suspected case of a company operating fixed-odds betting illegally.
In this sense, the communication must detail the reasons that led to the suspicion, including the CNPJ and the company’s corporate name.
Measures against illegal betting
The Secretary of Prizes and Bets of the MF, Regis Dudena, emphasizes that the SPA had already sent 22 notifications to financial and payment institutions in February, warning about the use of their services by illegal betting operators.
Thus, he assesses: “The new measure, together with the removal of illegal websites and advertisements, will be a fundamental reinforcement for the fight against those who want to act without authorization and for the protection of bettors, as it aims to prevent these websites, which put people’s economy and finances at risk, from receiving financial resources, closing the circle of illegal activity”.
Compliance and sanctions
It is worth noting that the obligations established by the new ordinance do not replace current legislation to combat money laundering, terrorist financing and weapons of mass destruction, which continue to be fully applied.
In view of this, Ordinance SPA/MF No. 566 provides that institutions and payment arrangement providers that fail to comply with the rules will be subject to inspection processes and, if proven, sanctions.
In contrast, the current regulations establish that fixed-odds betting companies authorized by the federal government can only offer services through websites with the extension “.bet.br”. Ultimately, the new rules aim to protect bettors and ensure the integrity of the betting market in Brazil.
https://igamingbrazil.com/en/legislation-en/2025/03/21/new-spa-mf-rules-prevent-bank-accounts-for-illegal-betting/