Febraban requires member banks to close accounts linked to unauthorised betting sites
Febraban said its member financial institutions must adopt stricter controls, including closing accounts linked to online betting sites unauthorised by Brazil’s Ministry of Finance Secretariat of Prizes and Bets. The federation announced the measure on 27 October as part of banking-sector self-regulation against digital fraud and money laundering.
The rule changes how member financial institutions handle payments linked to unauthorised betting sites in Brazil.