Lula criticises Brazil’s online betting expansion and discusses Central Bank oversight
Brazilian President Luiz Inácio Lula da Silva criticised the growth of online betting at a 16 January ceremony in Rio de Janeiro and referred to the Central Bank’s oversight role. The Ministry of Finance’s Prizes and Betting Secretariat is responsible for supervising the betting sector, while the Central Bank oversees financial-system transactions, according to the report.
Operators should note the distinction between the Finance Ministry’s betting supervision and the Central Bank’s oversight of financial transactions.