BRASIL’S SECRETARIAT OF PRIZES AND BETS (SPA) HAS ISSUED A MARCH 17 DEADLINE FOR ALL LICENSED BETTING COMPANIES (INCLUDING THOSE GRANTED AUTHORISATION BY COURT ORDERS) TO SUBMIT THEIR AML/CFT POLICIES.
The move comes after the country’s regulatory landscape saw growth in February, with the granting of definitive licences to eight additional operators, bringing the total number of authorised entities to 43. Another seven operators were granted permission by court order to provide bets.
Licensed betting companies must draft detailed AML and CTF policies, outlining their response to various risk scenarios in accordance with Brasil’s betting law (Law No. 14,790/2023) and Normative Ordinance No. 1,143. Failure to comply with the policy requirements could lead to significant sanctions.
Beyond simply developing internal policies, operators must set clear procedures for identifying and assessing the potential risks associated with players, including checking for politically exposed persons (PEPs) and managing the reporting of suspicious financial transactions to Brasil’s financial intelligence division (COAF).
The SPA’s efforts to guide operators include proactive seminars, providing webinars to clarify the best practices in reporting suspected money laundering and terrorism financing. These must not only describe suspicious activities but also explain the underlying evidence supporting these suspicions, a practice aligned with international AML protocols.
Alongside these measures, the SPA is continuing its efforts to collaborate with broader governmental and international entities.
In February, it joined Brasil’s National Strategy to Combat Corruption and Money Laundering (ENCCLA), demonstrating a commitment to enhancing the country’s fight against corruption and supporting a transparent betting market.
This month, the body kicked off a public hearing on its 2025-2026 regulatory plan, inviting industry representatives to share their input. Feedback will be collected until March 27th, with the finalised agenda expected to be published on April 4th, 2025.
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