The Secretary of Awards and Betting (SPA) of the Ministry of Finance will participate, as a full member, in the National Strategy to Combat Corruption and Money Laundering (ENCCLA). It is the main Brazilian institutional network for the formulation of public policies and solutions to address this type of crime, as well as a model of good practices, recognized by international forums of which Brazil is a signatory.
The Secretary of Awards and Betting (SPA) of the Ministry of Finance is the body responsible for the regulation, authorization, and supervision of the fixed-odds betting market in Brazil. In its operations, the SPA has sought partnerships and entities focused on transparency and also on combating result manipulation, having signed agreements with entities dealing with match-fixing issues.
Now, the Secretary also joins the National Strategy to Combat Corruption and Money Laundering (ENCCLA), with the goal of expanding its activities within its regulatory scope of bets in Brazil.
One of its roles, in the regulation, authorization, and supervision of the sports betting and online gaming market is precisely the compliance with the Law on Combating Money Laundering and Terrorism Financing (Law 9.613/2018).
Currently, ENCCLA includes 90 public institutions from the three branches of government (Executive, Legislative, and Judiciary) and the Public Prosecutor's Office, covering federal, state, and, in some cases, municipal levels, as well as civil society entities.
The fixed-odds betting market is in the final phase of the adaptation process, which will end on December 31, 2024. From January 1, 2025, only companies that have obtained authorization will be able to operate in Brazil.
These companies will need to comply with regulations established in two laws and ten normative ordinances, one of which is specific about combating money laundering and terrorism financing.
Source: GMB
