In a significant move aimed at enhancing accountability and preventing illicit financial activities, the Finance and Taxation Committee of the Chamber of Deputies has approved Bill 2359/25. Introduced by Deputy Kim Kataguiri the bill seeks to hold financial institutions liable for any negligence, omissions, or involvement in operations tied to illegal gambling and criminal organizations.
According to the Chamber of Deputies News Agency, the proposal encourages financial institutions to adopt effective mechanisms for identifying, reporting, and mitigating risks linked to these operations. The rules will also apply to other institutions supervised by the Central Bank and are part of the Brazilian Payment System.
The vote followed the report of the rapporteur, Deputy Pauderney Avelino. “The proposal helps strengthen the mechanisms for preventing and controlling illicit activities related to illegal gambling and criminal organizations,” stated the rapporteur.
According to the bill’s author, by making the regulations clearer and more objective, the bill reduces loopholes that could be exploited to continue illegal activities. “Moreover, it sends a strong message that the state is vigilant and will not allow the financial system to be used for its perpetuation,” explained Deputy Kim Kataguiri.
The proposal will be sent for review by the Committee on Constitution, Justice, and Citizenship.
Earlier this month The Secretariat of Prizes and Bets (SPA) announced that it had discovered that illegal betting sites are using a loophole to keep their operations running. These platforms rely on payment institutions that do not yet require authorization from the Central Bank, which facilitates the movement of funds even after successive actions to block domains. Talking to press, Regis Dudena, Secretary of Prizes and Bets, explained that this would have consequences for the institutions involved.
“These institutions are starting to realize that if they operate illegally, it will be taken into account when they seek authorization to operate fully through the Central Bank. We have already issued notifications, and in cases of repeat offenses, reports will also go to the Federal Police,” he said.
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In a significant move aimed at enhancing accountability and preventing illicit financial activities, the Finance and Taxation Committee of the Chamber of Deputies has approved Bill 2359/25. Introduced by Deputy Kim Kataguiri the bill seeks to hold financial institutions liable for any negligence, omissions, or involvement in operations tied to illegal gambling and criminal organizations. …
The post Committee approves bank accountability for illegal gambling in Brazil appeared first on G3 Newswire.