Brazil Goes After the Money Behind Illegal Betting, Putting Fintechs on Notice

Brazil has changed tactics against illegal betting, moving from blocking websites to choking the payment rails that move the money, and it has put fintechs squarely in the firing line.

Brazil’s government is squeezing the financial flows behind illegal betting. (Photo internet reproduction).

For two years Brazil has tried to tame a booming betting market by blocking websites. The trouble is that blocked sites simply reappear under new names the next day. So the government has switched targets.

Instead of chasing web addresses, it is now going after the money, and the payment firms that move it.