Legitimuz director assesses Brazil’s anti-money-laundering rules for betting
A commentary by Legitimuz anti-money-laundering director Fred Justo assessed Brazil's SPA/MF Ordinance 1,143/24, which covers money laundering, terrorist financing and the proliferation of weapons of mass destruction in betting. Justo argued that the rules rest on four pillars: policies, procedures, internal controls and reporting to Coaf. He also described operator risk assessment and customer checks as central to the procedures pillar.
The ordinance sets out compliance obligations that betting operators must address in their risk controls and customer checks.