Brazilian committee approves tougher illegal-betting controls
Brazil’s Chamber of Deputies Finance and Taxation Committee approved a bill to strengthen financial, technological, administrative and criminal measures against unauthorised betting operators. The proposal would require payment institutions to identify irregular transactions and publish monthly reports, with penalties including fines of up to R$20m and possible service suspensions. It would also give the Central Bank responsibility for measures addressing misuse of Pix.
The proposal could expand payment-monitoring, reporting and sanctions obligations for institutions handling unauthorised betting transactions.