The Brazilian government has implemented new regulations to target the illegal betting sector. President Lula signed a decree on Friday that allows authorities to freeze assets linked to unauthorized betting operations.
Finance Minister Dario Durigan announced that financial institutions, including banks and fintechs, must freeze funds associated with illegal betting companies within 48 hours. These institutions may also face joint liability for transfers made by operators without proper authorization. The measure aims to restrict financial transactions involving clandestine bets.
Government Coordination and Asset Seizure
The Secretariat of Prizes and Betting has identified illegal websites and notified Anatel to block them. Authorities are investigating operators that utilized 37 fintechs for financial transactions. The government is coordinating with the Federal Police, Public Prosecutor’s offices, COAF, and the Federal Revenue Service to act against these operations.
Wellington César Lima e Silva, Minister of Justice, stated that the decree is a significant step against organized crime migration into the illegal betting sector. The administration plans to block fintech companies and order the suspension of their operations. Expropriated assets will be transferred to the National Public Security Fund.