In response to recent regulations regarding the sports betting market set by Law 14.790, Data Rudder, a company specializing in anti-fraud solutions, has developed a product to support payment institutions in identifying cases of money laundering and terrorism financing.
Named "Monitora PLD," the platform conducts real-time monitoring of each client's financial transactions, identifying atypical operations and transactions with money laundering profiles in their accounts. The platform enriches data with variables typically associated with such schemes, such as verification of politically exposed persons, involvement in warrants and criminal proceedings, connection with forced labor, and suspicion or confirmation of death. Additionally, restrictive and international lists are analyzed to assess the probability of risk.
For monitoring transactions in sports betting platforms, other factors are relevant. Therefore, the platform verifies if the user is of legal age and if they are listed by the CBF (Brazilian Football Confederation) as a player, coach, referee, or in any other role that could influence the betting outcome.
In compliance with Article 23 of Law 14.790, Data Rudder's solution offers bettor identity verification through Face Match, proof of life, and document scrutiny.
Once the analysis is completed, the system generates three possibilities: the account continues to transact normally, it undergoes approval by authority, involving assessment by a director of the institution, or it is reported to COAF - the Financial Activities Control Council. To streamline the reporting process to the regulator, Monitora PLD automatically produces a report in XML format detailing the variables that indicated risk in that account.
"With data analysis, we can trace the customer's behavior profile and compare it with information from other profiles in the database. This allows us to identify similarities in these behaviors and point out transactions or accounts with greater suspicion. This is how we act both in prevention and risk detection," explains Beatriz Lima, Data Rudder's CDO.
The company's proposal is anchored in the advancement of the sports betting market in Brazil. Just between September and November 2023, sports betting sites accumulated a total of 2.1 billion visits, with an average of six minutes per visit, according to SimilarWeb. Additionally, according to a survey by Instituto Datafolha, online sports betting has attracted the attention of 15% of the Brazilian population, with an average monthly expenditure of R$263 (US$ 52,6) per person.
Bettors and companies in the betting sector now need to adapt to new rules as prescribed by the law. Regarding PIX, one of the permitted payment methods for bets, it is necessary for the key to be linked to the player's own data. The intention of this measure is to ensure that users can only direct money to bets that they already have in their bank account.
According to data provided by Datahub, between 2020 and 2022, the sports betting market experienced a 360% growth. Several reasons can be attributed to this phenomenon, such as the popularity of online gaming, increased bank access, internet access, and smartphone usage. And PIX certainly contributes to this growth, as it offers a quick, secure, and convenient alternative for financial transfers, facilitating the process for users.
Source: GMB
