Brazil draft wants banks and fintechs directly involved in black market fight

The Chamber of Deputies of Brazil has tabled a proposal which would see banks and fintechs play a deeper role in the fight against the black market, and safeguard the existing laws of the Bets regime. 

As reported by SBC Noticias Brasil, Bill 182/2025 was presented by Congressman José Guimarães, Member of the Chamber of Deputies of Brazil, proposing to hold payment providers accountable for facilitating transactions related to illegal betting.

The proposal comes as Brazilian authorities continue to have concerns of the market’s transition from a grey to regulated status as of the 1 January adoption of the Bets regime. 

Within the ranks of Congress and the Senate, anxieties have been expressed over the current vulnerabilities as illicit operators are deemed to be actively targeting users of the Bolsa Familia – Brazil’s national social welfare program. 

The bill will require financial institutions to closely monitor customer accounts, flagging down payouts from bets made on illegal platforms and withholding a percentage which would then be paid back to the government. Failure to comply would result in fines or other penalties.

Guimarães outlined that this would not only diminish the profitability of illegal betting and therefore make it less appealing, but would also make it more traceable.

Brazilian news outlet O Globo further noted that based on Brazil’s Annual Budget Bill (PLOA), the draft bill will unlock around R$20bn (£2.7bn) in additional funding in 2026.

In his proposal, Guimarães stated that these funds will then be used to subsidise national health programmes, including prevention and treatment of gambling disorders.

“By jointly [making] financial and payment institutions responsible for facilitating transactions of unauthorised operators, the proposal creates an effective mechanism to block the financial flow of illicit activities and ensure the collection of taxes due,” the bill reads.

Additional provisions will ensure that those found guilty of promoting unlicensed gambling content will also face repercussions.

Response is overall positive

While the Brazilian Federation of Banks (Fedraban) confirmed that it fully supports any measures to reduce the influence of the black market, it also called for caution and asked for the bill to be carefully analysed to avoid any negative side effects.

The directive to directly monitor gambling deposits and transactions has received the backing of Finance Minister Fernando Haddad, who has been openly critical of the early developments in Brazil’s betting market.

Haddad previously instructed the federal police to investigate financial flows into licensed betting operators after the Central Bank reported suspicious activity. According to the Bank, in just one month, tax identification numbers linked to individual beneficiaries were used to channel more than R$3 billion into betting accounts.

Meanwhile, the National Association of Games and Lotteries (ANJL) fully welcomed the draft by saying that cutting the financial flow of illegal operators will inevitably make them weaker.

“With the creation of legal mechanisms capable of interrupting this financial flow, it will be possible to weaken irregular activity and protect the bettor,” the ANJL said.

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