The Financial Activities Control Council (COAF) is intensifying the exchange of information with the Secretariat of Prizes and Bets of the Ministry of Treasury (SPA/MF). This action is in line with legislation that regulates companies that operate fixed-odd bets, including those carried out online (bets).
Among the ongoing initiatives, monitoring actions stand out to prevent companies from operating without due authorization to explore this modality, as defined by legislation. This ensures that the betting operation complies with legal rules.
Internally, COAF focuses on deepening studies on betting. The group is also improving mechanisms to identify possible offenses reported by entities required to report suspicious activities, according to the law.
About COAF
COAF is Brazil’s Financial Intelligence Unit (UIF). It serves as the central authority in combating money laundering and terrorist financing. Created by Law No. 9,613/1998 and restructured by Law No. 13,974/2020, COAF has technical and operational autonomy throughout the country.
Its functions include receiving and analyzing information about suspected illicit activities. COAF must produce and manage financial intelligence information to combat money laundering. When it identifies signs of crimes, it shares communications with competent authorities.
Furthermore, COAF regulates compliance with obligations set out in the Money Laundering Law. It applies sanctions when it detects non-compliance with these obligations.
It is also responsible for promoting cooperation with national and international organizations linked to its activities, allowing quick actions against the concealment of assets.
About the Prizes and Betting Secretariat
The Secretariat of Prizes and Bets (SPA) is part of the Ministry of Treasury and regulates the sports betting and online gaming sector in Brazil. Primarily, it is responsible for authorizing and supervising fixed-odds betting and lotteries.
Additionally, SPA monitors commercial promotions and philanthropic sweepstakes. Through strict supervision, it ensures that all activities comply with current legislation.
In this way, the secretariat plays an essential role in the integrity and security of the betting market. Therefore, your actions are crucial to prevent irregularities and protect consumers.
