Brazilian President Luiz Inácio Lula da Silva stated on Friday, the 16th, that online casinos and betting are “taking over” football, advertising, and driving corruption in Brazil.
The statements were made during the launch of a commemorative medal marking the 90th anniversary of the minimum wage, created in 1936. While sharing the stage with the President of the Central Bank (BC), Gabriel Galípolo, the president said that the BC is working to ensure that these companies pay taxes.
“The casino has entered our homes, allowing a 10-year-old child to take their parent’s phone and gamble, with the number of bets that have been created taking over football, advertising, and corruption, because you are seeing the work of the Central Bank trying to make these people pay at least taxes in our country,” said the president.
According to Lula, he was told when he was young, through religious leaders, that Brazil should not have casinos. Gambling was made illegal in 1946 when President Eurico Gaspar Dutra banned casinos and all gambling in Brazil (apart from state lotteries and horse racing).
Lawmakers have made significant progress in imposing stricter measures aimed at combating illegal gambling and irregularities linked to the industry. In December the Communication Committee of the Chamber of Deputies approved a bill that establishes a legal framework to combat illegal betting and gambling, aiming to strengthen financial, administrative, technological, and legal action against unauthorized operators.
The bill mandates financial and payment institutions to adopt protocols to identify transactions involving irregular operators and to publish monthly reports containing information about the volume of operations, the blocks enforced, and internal controls adopted. However, customer identification must not be disclosed.
These institutions will also be required to integrate into information-sharing systems concerning fraud and must also check updated databases of illegal operators, which will be maintained by the Ministry of Finance.
Non-compliance with these regulations could result in fines up to R$ 20 million, service suspension, and restrictions on using in severe or repeated cases.
The text states that the Central Bank will regulate mechanisms to prevent the misuse of payment methods such as Pix and TED by unauthorized betting operators.
The proposal will be analysed by the Finance and Taxation and the Constitution, Justice, and Citizenship committees and is subject to plenary review.
The post Gambling “taking over football” and driving corruption says Brazil’s President appeared first on G3 Newswire.
Brazilian President Luiz Inácio Lula da Silva stated on Friday, the 16th, that online casinos and betting are “taking over” football, advertising, and driving corruption in Brazil. The statements were made during the launch of a commemorative medal marking the 90th anniversary of the minimum wage, created in 1936. While sharing the stage with the…
The post Gambling “taking over football” and driving corruption says Brazil’s President appeared first on G3 Newswire.