According to the new ordinance, betting platforms operating in Brazil must adopt clear policies to combat illicit practices, such as identifying, qualifying and carrying out a risk classification of bettors.
All suspicious transactions must be reported to the Financial Activities Control Council (Coaf), a federal government body that works to combat money laundering.
In this scenario, Paag announced the launch of Paag Shield, which provides real-time data on players' suspicious movements, which includes monitoring behavior patterns, potential risks, suggestions for requesting documents to prove the player's income, survey bettor risk score and behavior analysis.
The aim of the product is to help prevent fraud and report any necessary activity to the responsible bodies.
“We have been preparing for the new market determinations for a while now. The new regulatory ordinance brought the guidelines we expected and, with this in mind, we are launching new products aiming to provide all services to help bets in the process of adapting to these rules,” explains João Fraga, CEO of Paag.
“With exclusive technology for operators, we are offering tools for regulatory compliance and support for preventing fraud, money laundering and financing illicit activities,” adds the executive.
Among other new features, the company also launched PaagID, which will act as a passport for people who want to play in betting. Simply create a user login once to use it on different betting platforms.
In addition to ensuring an updated base of information about each player, the launch seeks to improve the experience of bettors and reduce costs with KYC (a service that involves identity verification) for operators.
Services include facial and document validation, integrated CPF queries and other data, as well as user account management and support to keep them secure.
Another new product is Paag Payments. Specialized in betting, it is a system that carries out the secure exchange of payment information between points of sale and financial institutions, and which has its own technology, in addition to prominent rates within the market.
Finally, the company also presented Paag Finance, which offers complete banking services for regulated houses.
Source: GMB
