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Brazil’s Secretariat of Prizes and Bets (SPA) has issued a directive requiring all licensed betting operators to submit comprehensive anti-money laundering (AML) and counter-terrorism financing (CTF) policies by 17 March 2025. This mandate applies to all operators licensed directly by the Ministry of Finance as well as those granted authorization through court orders.
The requirement is part of Brazil’s broader regulatory efforts to combat financial crimes in the rapidly expanding betting sector. It aligns with Law No. 14,790/2023 and Ordinance SPA/MF No. 1,143/2024, which outline strict compliance measures for operators.
As of February 2025, 43 operators have received full authorization, with seven additional companies granted approval through court rulings. Under the SPA’s guidelines, betting companies must implement risk-based strategies to assess customer activity, report suspicious transactions to Brazil’s financial intelligence unit (COAF), and monitor for politically exposed persons (PEPs).
To assist operators in meeting these requirements, the SPA conducted a webinar on 12 February to clarify best practices for identifying and reporting suspicious activity.
This directive follows SPA’s November 2024 integration into the National Strategy to Combat Corruption and Money Laundering (Enccla). As part of this inter-institutional initiative, SPA collaborates with Brazil’s executive, legislative, and judicial branches to strengthen oversight and prevent illicit financial activities.
The AML compliance deadline comes amid Brazil’s continued betting market expansion. Recently, SPA approved 21 new definitive licenses, bringing the total number of fully licensed operators to 35 and the number of authorized betting companies (including provisional license holders) to 69.
Additionally, SPA is working on its 2025-2026 regulatory agenda, with a public hearing starting 21 February to gather feedback from industry stakeholders. The consultation period will close on 27 March, with the finalized regulatory agenda set for publication on 4 April.
With stricter AML and CTF requirements, SPA aims to enhance market integrity, protect consumers, and prevent illicit financial activities as Brazil's regulated betting industry continues to grow.
Sources: Gambling Insider, IGB
