Brazil's SPA requires anti-money laundering policies from licensed betting operators
This requirement applies to both operators authorised directly by the Ministry of Finance and those operating under court orders.
- Brazil’s SPA has mandated betting companies to submit anti-money laundering policies
- The requirement applies to all authorised operators and aligns with recent regulatory legislation
- The directive follows SPA's integration into the national anti-corruption strategy and coincides with market expansion
Brazil's Prizes and Betting Secretariat (SPA) has issued a directive requiring all authorised fixed-odds betting operators to submit their anti-money laundering and terrorist financing prevention (PLD/FT) policies.
The mandate applies to all betting companies operating in Brazil, including those authorised directly by the Ministry of Finance and those operating under court orders.
Each operator must provide detailed PLD/FT policies outlining specific criteria and actions for various scenarios, in accordance with Law No. 14,790/2023 and Ordinance SPA/MF No. 1,143/2024.
To support operators in meeting these requirements, the SPA conducted a webinar on 12 February focusing on best practices for reporting suspicious activities to the Financial Activities Control Council. The session detailed the procedures for suspicious transaction reporting.
The announcement gives operators until 17 March to comply with the requirement
This initiative builds on the SPA's recent integration into the National Strategy to Combat Corruption and Money Laundering (Enccla) in November 2024.
As a member of this inter-institutional body, which includes representatives from the Executive, Legislative and Judicial branches, the SPA aims to strengthen its commitment to combating financial crimes and enhancing sector regulation.
The announcement comes amid the continued expansion of Brazil's regulated betting market, which has recently granted 21 new definitive licences, bringing the total number of fully licensed operators to 35.
The growing market now includes 69 operators with either provisional or definitive authorisation.
https://www.gamblinginsider.com/news/28454/brazils-spa-requires-anti-money-laundering-policies-from-licensed-betting-operators