Brazil requires banks and fintechs to block funds linked to illegal betting
Brazil’s federal government announced rules requiring banks and fintechs to block funds belonging to unauthorised betting operators. Financial institutions must halt transactions within 24 hours of receiving notice from the authorities, and seized funds will go to the National Public Security Fund; Lottopar backed the measures.
Operators and payment providers face a 24-hour deadline to stop notified transactions linked to unauthorised betting.