The Secretary of Awards and Betting and the Financial Activity Control Council gathered more than 190 operators to present models for the communication of suspicious alerts.
Brazil.- The Secretary of Awards and Betting (SPA) and the Financial Activity Control Council (Coaf) organized a meeting with representatives from the legal and compliance areas of betting companies. In the virtual meeting, which gathered more than 190 operators, Coaf presented what it considers the best models for the communication of suspicious activities.
According to Law No. 9613/1998, fixed-odds betting operators are required to report to Coaf any activity that raises suspicions about money laundering, terrorism financing, and the proliferation of weapons of mass destruction. At the meeting, market representatives were also able to resolve doubts about how to make these communications, which are important for crime prevention.
According to the general coordinator of money laundering monitoring at SPA, Frederico Justo, these meetings are part of SPA's regulatory routine and open space for companies to approach the regulatory body.
“With the regulation fully operational, we noticed that some operators have already made this communication to Coaf, but they have done it in very different ways. We realized that there were doubts about what and how to communicate a suspicious activity, and from there the idea of organizing this alignment meeting emerged,” explained the manager.
In June 2024, SPA published Ordinance 1.143, which establishes policies, procedures, and internal controls for the prevention of money laundering that betting operators must adopt.
