Brazil’s Ministry of Finance has stepped up its crackdown on illegal online gambling. It has notified 37 fintech companies accused of processing payments for unauthorized betting platforms.
The move forms part of a broader enforcement strategy. This strategy is led by the Secretariat of Prizes and Betting (SPA) and the Federal Revenue Service to disrupt the financial infrastructure supporting illegal operators.
Fintechs Given August Deadline
According to the government, the fintechs facilitate transactions for around 160 unlicensed betting websites.
The companies have until the end of August to stop processing payments for unauthorized operators and update their compliance procedures. Those that fail to comply could face fines, administrative sanctions, asset freezes, and potential joint liability for regulatory violations.
Broader Crackdown Continues
The financial enforcement campaign follows wider efforts to remove illegal gambling platforms from the Brazilian market.
Working with the National Telecommunications Agency (Anatel), authorities have blocked approximately 54,000 gambling websites linked to unauthorized operators.
Officials estimate that 41% to 51% of gambling websites accessed by Brazilian users continue to operate without a licence. This has prompted closer coordination between regulators and enforcement agencies.
Focus on Licensed Operators
Under Brazil’s regulated betting framework, only operators licensed by the Ministry of Finance can legally offer betting services. Licensed platforms must maintain a legal presence in Brazil. In addition, they must comply with responsible gambling rules. They must pay licensing fees. Furthermore, they must operate using the country’s official “.bet” domain structure.
The latest measures are designed to make it more difficult for illegal operators to process payments. At the same time, these measures encourage players to use licensed betting platforms.
