According to Law No. 9613/1998, fixed-odds betting operators are required to report to Coaf any activity that raises suspicions of money laundering, financing of terrorism and proliferation of weapons of mass destruction. At the meeting, market representatives were also able to ask questions about how to make reports, which are important for crime prevention.
According to the SPA's general coordinator for monitoring money laundering, Frederico Justo, these meetings are part of the SPA's regulatory routine and provide an opportunity for companies to approach the regulatory body.
“With the regulation fully operational, we noticed that some operators have already made this communication to Coaf, but they have done it in a very different way. We realized that there were doubts about what and how to report suspicious activity, and that's where the idea of ??organizing this alignment meeting came from,” explained the manager.
In June 2024, SPA published Ordinance 1,143, which establishes policies, procedures and internal controls for preventing money laundering to be adopted by betting operators.
For Rafael Bezerra Ximenes de Vasconcelos, Coaf's director of supervision, the expectation is that suspicious activity reports will be made with greater quality, which will help in the investigation process by the Financial Intelligence Unit's technicians.
“Given the way Coaf’s financial intelligence works, it is very important to communicate correctly,” Vasconcelos emphasized.
Source: GMB
