Legitimuz, a leading company in user identification and identity verification onboarding, is fully compliant with the new rules issued by Minister Luiz Fux of the Supreme Federal Court. With its tools, the company is able to confirm the registered data of users while performing cross-checks against updated lists of participants in social and welfare programs, such as Bolsa Família and the Continuous Cash Benefit (BPC).
The recent decision of the Supreme Federal Court (STF), under the direction of Minister Luiz Fux, introduces immediate relevant measures for the regulation of online betting in Brazil, as established in sections of the Portaria SPA/MF Nº 1.231. The new requirements, which take effect immediately, include the prohibition of advertising targeted at minors and the use of social program funds in betting, such as Bolsa Família. These changes aim to protect vulnerable segments of society, intensifying norms of responsible gaming and consumer protection.
To assist online betting operators in quickly adapting to these new legal guidelines, Legitimuz stands out by offering its Identity Verification Onboarding System (KYC Onboarding). That is, Legitimuz's KYC has the ability to perform detailed verifications in less than 30 seconds, which confirms the registered data of users while performing cross-checks against updated lists of participants in social and welfare programs.
Additionally, the effectiveness of Legitimuz's KYC system includes queries to lists of Politically Exposed Persons (PEP) and Anti-Money Laundering (AML) measures, ensuring a rigorous and thorough analysis. This approach ensures that only permitted individuals can complete the registration, aligning perfectly with the consumer protection and responsible gaming guidelines stipulated by the Portaria.
With an approval rate of 97%, Legitimuz demonstrates the efficiency of its KYC system and the relevance of the service in the context of the new regulatory measures. The high success rate reflects the company's commitment to promoting verification practices that respect the latest security and compliance standards, making it easier for operators to meet legal requirements effectively and reliably.
In summary, Legitimuz's KYC solution ensures full compliance with the new guidelines, allowing online betting operators to remain in compliance and ensure maximum efficiency as a market leader. With advanced technology and meticulous verifications, Legitimuz ensures that each step of the onboarding is in full compliance, mitigating risks and promoting safety and ethics in iGaming operations in Brazil.
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Source: Legitimuz
