Brazil payment firms must report illegal betting operators and block transactions

Brazil's Finance Ministry issued a regulation on 18 June requiring financial and payment institutions to block transactions linked to illegal betting companies within 24 hours of formal notification by the Secretariat of Prizes and Betting and the Federal Revenue Special Secretariat. The rules also make those institutions, and parties advertising unlicensed gambling platforms, jointly liable for taxes and prizes owed; liability will be determined through an administrative tax procedure.