Brazil considers nationwide ban on betting ads
On Wednesday, March 12, Brazil’s Sports Commission (CEsp) will discuss a bill that could ban all fixed-odds betting ads nationwide.Introduced by Senator Styvenson...
Brazilian betting license seekers must follow AML rules
Before the licensed system is operational in January 2025, operators seeking a Brazilian betting license have been notified about compliance with new anti-financial crime regulations.
New guidelines concerning anti-money laundering (AML) measures were published by the Brazilian Ministry of Finance for betting providers. For them to continue operating their businesses all of Brazil’s operators will need to adhere to these rules by the end of next year.
As for now, within ninety days before the deadline imposed by the law only two companies have applied for permits namely Superbet and Betano.
The Ministry’s Ordinance SPA/MF No 1,143 is in line with international standards aimed at combating Money Laundering, Financing Terrorism and Proliferation of weapons of mass destruction encouraging betting operators to have risk policies for their customers, employees, and vendors.
After missing the ministry’s deadline in April, the technical standards were released in May; consequently someone could also say that this text describes ‘AML guidelines’ which were expected to be presented in month of May as well as details concerning both security of internet gaming sites and observation measures against ads promoting betting businesses because otherwise it would appear like every written material on this matter is incomplete till July when government body will unveil the final piece of regulations.
The second stage in Brazil’s finalization of permits for bet license acquisition and games of chance development is the anti-money laundering bill.
This information was released last May. According to the plans, gaming operators in Brazil have begun until the end of 2024 to acquire a license or face penalties since January 1, 2025. Priority assessment will be given to applications that were submitted within 90 days after the release of Ordinance 827.
Earlier this month, Hugo Baungartner, the CCO of Aposta Ganha said:
“They’re making sure labs that are approved for the Brazilian market know exactly how to certify the games included in the ordinance.”
Hugo Baungartner believes the publication of new rules will provide clarity.
Brazil’s SPA orders AML and CTF policy submissions
The Secretariat of Prizes and Bets (SPA) in Brazil requires licensed operators to submit their anti-money laundering and counter-terrorism financing policies by March 17.
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