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The Central Bank of Brazil has released new measures regarding the implementation of certain changes in the framework for preventing illegal betting in the country.
Resolution BCB No. 569/2026 was signed by the Director of Regulations Gilneu Francisco Astolfi Vivan and makes some amendments to Resolution BCB No. 343 that was enacted in October 2023.
The amendments concern the provisions in regards to the sharing of information about fraudulent activities with the involvement of unauthorized betting operators in Brazil.
Financial Institutions Will Have to Share Additional Data
Among other provisions, Article 24-A of Law No. 14.790/2023 that regulates the market of fixed-odds betting in Brazil, became the legal ground for the release of the amendment.
According to the amendments in the framework, financial institutions in Brazil will now need to share information regarding fraud with the involvement of persons or organizations engaged in illegal betting activities.
As such, new cases in which information must be shared with other financial institutions now include providing financial and payment services to persons or organizations that conduct business operations as betting operators but remain unregulated in the country.
Sharing Information about Unlicensed Operators to Be Specified
Information in the newly enacted regulation must clearly state that the detected suspicious activity is linked with illegal betting operators.
As such, the measure aims at improving the identification and investigation of cases where financial service providers detect financial transactions and activities conducted by betting operators that operate illegally within Brazil.
The Central Bank of Brazil believes that the new measure will contribute to increasing the efficiency of the financial system in Brazil.
Compliance Deadlines Set for Financial Institutions
Alongside additional information, the new regulation also contains several new deadlines related to information sharing. In case there are transactions linked with illegal provision of virtual asset services in the financial and betting market in Brazil, institutions must adopt all measures by October 30, 2026.
However, in case there are fraudulent activities linked with illegal financial and payment services provided to betting operators, the deadline for the adoption of all necessary measures remains December 1, 2026.
Illegal Betting Remains a Priority in Brazil
Despite the introduction of the regulatory framework for Brazil’s betting market, authorities still face major challenges when fighting illegal betting in the country. Thus, in most cases, the number of illegal operators and transactions still accounts for almost half of all transactions in the betting market of Brazil.
Over recent months, regulators and law enforcement authorities have taken additional measures targeting illegal advertising, transactions, and operations of betting operators in the country.
Source: SBC Noticias
