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Brazilian decree allows freezing funds linked to illegal betting

Enforcement & compliance

Brazilian President Luiz Inácio Lula da Silva signed a decree allowing authorities to freeze funds held by financial institutions that are linked to illegal betting, Finance Minister Dario Durigan said. Banks, fintech companies and payment institutions have 48 hours to freeze funds in accounts associated with unauthorised betting companies, and may be held jointly responsible for related transfers.

Financial institutions face new duties to freeze funds and potential liability for transfers tied to unauthorised betting.

Earlier fines and penalties by SPA

DateCompanyAmountStoryAppeal status
Not namedNot statedBrazil decree enables freezes of accounts linked to illegal bettingNot stated
Not namedBRL 50,000,000,000Brazil launches investigation into 37 illegal betting companies over R$50bnNot stated
Not namedNot statedMPRN launches Conto da Sorte probe into illegal betting across three Brazilian statesNot stated
SpribeNot statedMP-DF opens civil inquiry into Spribe’s supply of Aviator in BrazilNot stated

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