The National Congress approved Bill 3,626/23, marking a new era for sports betting in Brazil. In addition to addressing tax and concession issues, the regulation emphasizes essential measures for an authentic and safe gaming experience.
A crucial highlight is the mandatory identification of the bettor, a direct response to the concern about bets placed by people under 18 years of age. Parliamentarians, including Angelo Coronel, recognize the importance of this authentication.
Identity verification not only deters traditional fraud, but also plays a vital role in preventing inappropriate practices, reinforcing the exclusivity of the online gambling environment for adults.
Therefore, the project establishes robust guidelines for operators, requiring the verification and validation of bettors’ identification information.
These measures, in line with regulations, not only boost the Sports Betting sector in the country, but also establish a safer and more regulated environment. However, security concerns go beyond simply complying with the legal age, encompassing emerging threats, such as synthetic identities.
Lindsay Slader, SVP of Compliance at GeoComply, highlights the growing use of synthetic identities by fraudsters. These identities, composed partially or entirely of fictitious information, pose a massive combat challenge due to their anonymous nature. Without a discernible victim behind the fraud, detection becomes more difficult, prolonging the fraud scheme and increasing losses.
“Because there is no victim behind a fraud that uses a synthetic identity, a fraud scheme can last much longer without being noticed, and investigations become more challenging.”
Cybersecurity
This is where KYC (Know Your Customer) biometric protocols come in, a vital tool in the battle against synthetic identities and compliance with the legal age.
The combination of verification methods, including facial biometrics, strengthens operators’ anti-fraud arsenal, allowing them to trace information back to the real individual behind the account. Preventing both the participation of minors in betting and possible fraud against operators.
Legitimuz
In this scenario, Legitimuz takes the lead in the fight against fraud and cyber verifications. Its robust system and innovative strategies offer unparalleled security, making it stand out as the top choice for bookmakers.
The company not only protects against fraudsters, but also increases security and profitability for operators, representing a revolutionary change in the online betting landscape.
By adopting regulatory measures and innovative solutions like Legitimuz, Brazil not only guarantees the safety of players, but also reinforces the integrity of sports betting.
This combination of regulation and advanced technology lays the foundation for the responsible and ethical growth of the industry, thus providing everyone involved with a fairer and more reliable gaming experience.
