Brazilian tax chief says fintechs serve illegal betting and cigarette smuggling
Brazilian Federal Revenue secretary Robinson Barreirinhas said criminal groups use fintechs in illegal betting, fuel, and conventional and electronic cigarette smuggling. He said the agency expected to receive customer transaction information from fintechs during September, covering activity since the start of the year, to strengthen inspections.
The expected transaction data could increase tax inspections of fintech activity linked to illegal betting.