Febraban requires Brazilian banks to block accounts tied to illegal betting
Brazil’s banking federation Febraban announced mandatory protocols for banks to identify and block suspicious transactions and close accounts linked to unauthorised betting platforms. Banks must report cases to the Central Bank and submit compliance declarations to Febraban; breaches may bring warnings or exclusion from the federation’s self-regulatory system.
The protocols impose new account-monitoring and reporting duties on banks handling betting-related transactions in Brazil.