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Brazilian government reports R$159m in betting-account balances to refund

Regulation

Brazil’s communications secretariat said betting companies had reported R$159 million in remaining customer balances for refund, based on updated company data. Eight companies had not sent banks the required account information, and the federal attorney general’s office plans legal action to compel them to do so; financial institutions were expected to make refunds by 14 October.

The reported balances and planned legal action affect operators’ information duties and the return of customer funds.

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Regulation

Brazil’s SPA warns consumers against paying fees to recover betting balances

Brazil’s Secretariat of Prizes and Betting said consumers should not pay fees or share personal or banking details in response to messages seeking payment to release betting balances. The SPA said it had received no report about the specific fraud but confirmed that Caixa Econômica Federal would handle refunds and that payment methods used by fraudsters were under investigation.

Brazil's Secretariat of Prizes and Betting (SPA) has told consumers not to pay fees or provide personal or banking details in response to messages demanding payment to release betting balances, the regulator said. The SPA said it had not received reports about the specific fraud, but reiterated that no fee is foreseen for the return of funds to bettors. The return of remaining balances will be handled exclusively by Caixa Econômica Federal, according to the secretariat.

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