SectorWire
SearchGet the daily briefing
Menu

Brazilian Federal Police target illegal Caixa lottery betting operation

Enforcement & compliance

Brazil’s Federal Police carried out searches on 26 and 27 November in an investigation into a group accused of operating an illegal online site resembling Caixa Econômica Federal’s lottery platform. Authorities executed nine search warrants and seized assets, including property, under court-ordered measures amounting to R$107 million; the investigation concerns alleged financial and currency crimes, fraud and money laundering.

The investigation targets an unauthorised lottery site and alleged diversion of funds from official Caixa games.

Request a correction

Keep reading

Regulation

Brazil's SPA sets financial procedures to target illegal betting

Brazil’s Secretariat of Prizes and Betting (SPA) issued an ordinance setting procedures for financial institutions to identify and block transactions linked to illegal betting. Banks and payment institutions may have up to 45 days to examine suspicious activity; after the SPA orders a block, they have up to 24 hours to restrict identified accounts and up to 48 hours to confirm compliance. Further procedural details are due in a separate normative instruction.

Continue reading