Brazil’s SPA-MF requests money laundering policies from operators
The notifications were issued both to betting operating agents, authorized directly by the SPA-MF, and to those currently operating under court decisions.
Key Points
- Each set of policies brought forth by operators must include details on how money laundering and terrorist financing will be combatted
- The legislation requires effective actions to prevent financial crimes in the betting sector, while failure to comply with these determinations could result in sanctions
The Secretariat of Prizes and Betting of the Ministry of Finance (SPA-MF) in Brazil has issued notices to all authorized operators currently conducting business within the country to present its policies on combating money laundering and terrorist financing.
Operators were given until March 17 to respond to the SPA-MF, as the newly regulated Brazilian fixed-odds betting market first launched for players during January 2025.
The notifications were issued to both betting operating agents which were authorized directly by the SPA-MF, and to those currently operating under court decisions. Each set of policies prepared by the operators must detail “criteria and actions” that will combat money laundering and terrorist financing.
The legislation requires effective actions to prevent financial crimes throughout the betting sector in Brazil, while failure to comply with these determinations may result in sanctions.
Good to know: SPA-MF and the Ministry of Justice and Public Security’s National Consumer Secretariat signed a technical cooperation agreement on February 19 to protect bettor rights within the fixed-odds betting market
The notices also highlighted a webinar hosted by SPA-MF during February 2025, where procedures for reporting suspicious transactions to the Council were detailed, as established in previous legislation.
On February 12, SPA-MF granted 21 definitive authorization orders for 21 companies to begin operating fixed-odds betting within the country. With this latest announcement from the SPA-MF, the total number of companies to have full licenses in Brazil has now risen to 35.
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