As the market prepares for its formal debut on January 1, 2025, the Brazilian Securities and Exchange Commission (SPA), a division of the Ministry of Finance, is stepping up its supervision of the nation’s gambling industry. The SPA, which oversees, authorizes, and regulates betting businesses, has made it a priority to make sure that important anti-money laundering (AML) and counter-terrorism financing (CTF) regulations are followed.
Strengthening Anti-Money Laundering Efforts
A key focus for the SPA is to ensure that betting operators adhere to Law No 9,613/2018, which mandates measures to combat money laundering and terrorist financing. This includes implementing customer identification procedures and classifying the risk of transactions in line with global standards.
On November 11, the SPA made a significant announcement, confirming its full membership in ENNCLA, Brazil’s leading institution responsible for public policies related to corruption and money laundering. ENNCLA has played an instrumental role in shaping over 90 public laws within Brazil’s federal, legislative, and judicial branches. By joining ENNCLA, the SPA aims to further align its regulatory efforts with national and international best practices for financial integrity.
Earlier this year, the SPA also took steps to solidify its commitment to AML compliance through the publication of Normative Ordinance No 1,143 in July. This ordinance requires betting agents seeking licenses to adopt AML and CTF policies that help identify potential risks associated with customers, employees, and suppliers. Crucially, operators must report suspicious transactions to the Financial Intelligence Unit (COAF) and monitor the status of politically exposed persons (PEPs) and their associates.
In another important development, the SPA has authorized Trisigma BV, a Dutch software testing agency, to certify betting platforms and online games in Brazil. This decision, announced alongside the updated regulations, adds Trisigma to a growing list of certified entities, which includes major names like Gaming Laboratories International (GLI) and eCogra Limited. These agencies play a vital role in verifying that betting platforms comply with Brazil’s stringent regulatory framework.
“The obligation to certify betting platforms, online games, and their integrations with various suppliers is part of the federal government’s strategy to ensure a safer market for Brazilian bettors,” said the SPA. By working with certified entities, the SPA aims to uphold the integrity of the Brazilian betting market as it prepares for its official launch.
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