Brazil's new online gambling market has strict compliance requirements, involving anti-money laundering, customer verification, and technical standards, among other aspects. Operators must pay close attention to avoid pitfalls. Detailed reports are available on the PASA official website to help everyone grasp the latest developments more comprehensively.
Anti-Money Laundering and KYC Regulations
According to Brazilian federal law and regulations issued by SPA, operators must implement strict anti-money laundering and anti-terrorism financing measures, including annual risk assessments, maintaining records for at least five years, and appointing a compliance officer. For KYC, users must verify their identity using a tax number and facial recognition at registration, assess player risks, prohibit minors from participating, and ensure payments are made through Central Bank authorized institutions, disallowing credit cards and cryptocurrencies.
Technical Compliance and Data Security
Data centers and servers must be located within Brazil and have ISO 27001 certification, with data backups kept for at least five years. Network communications must be encrypted and use the ".bet.br" domain, while also deploying intrusion detection and firewalls. Game outcomes must be determined by a random number generator, and live studios must be monitored with video recordings retained for more than 90 days, all to ensure fairness and security.
Key Regulatory Body Responsibilities
SPA, as the main regulatory body, is responsible for issuing federal licenses and daily supervision; the Ministry of Finance, Ministry of Sports, COAF, and the Central Bank are respectively responsible for tax compliance, sports event compliance, anti-money laundering monitoring, and payment management. Additionally, consumer protection agencies and data protection authorities will intervene to ensure advertising transparency, data security, and handle consumer complaints.
Compliance Practices and Recommendations
Operators need to regularly update internal policies, conduct employee training, and stay informed about regulatory changes, such as through the Ministry of Finance website. It is recommended to maintain communication with various regulatory bodies and establish comprehensive emergency and business continuity plans to operate steadily in the rapidly developing market and avoid penalties.
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This article is from "PASA-Global iGaming Leaders," a gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
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PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
