As soon as I left the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance in April, I started thinking of different ways to keep contributing to the betting market. I have always defended a close and collaborative relationship between the regulator and the regulated entities, and it was with this vision that the idea of promoting an event dedicated to Anti-Money Laundering (AML) and compliance in the betting sector was born.
To my surprise, this was also the vision of Legitimuz, the leading KYC company in the segment. This alignment of ideas led to the creation of the first edition of Legitimuz Day, an event designed with great care to spread a culture of integrity and discuss best practices for the market.
Behind the scenes of a big dream
I’ll admit — I dreamed big. I imagined bringing together, in the same auditorium, some of the best experts I know in AML and compliance. Even with experience, that familiar doubt always creeps in: Would this highly qualified group accept our invitation?
After many meetings and planning sessions, we began reaching out. With each confirmation, our confidence that we were on the right track grew stronger.
Our team worked tirelessly to invite market operators, using as our main argument one of the great virtues of our regulation: the partnership between operators, the SPA, and other public institutions.
The strong participation of operators — whether or not they were Legitimuz clients — was the greatest proof of the success of our initiative, designed to guide a sector that, being new from a regulatory standpoint, still needs direction to protect itself.
A meeting of giants in compliance and AML
For those who work in AML and anti-fraud, spending a day discussing solutions with representatives from SPA, COAF, the Federal Police, ENCCLA, the Ministry of Sports, the Ministry of Justice, the Central Bank, the Federal Prosecutor’s Office (MPF), the Office of the Comptroller General (CGU), and ANATEL is like taking your child to Disney. To this, we added the valuable contributions of professionals from other sectors of the economy.
Main insights and discussions from the event
The feeling was one of mission accomplished. We delivered rich discussions and practical guidance. We heard from the regulator that there is no room for non-compliance with AML regulations and that fighting the illegal market is a top priority.
COAF showed openness to dialogue, emphasizing the need for well-prepared reports of suspicious transactions. ENCCLA highlighted sector-specific risk typologies, offering operators an important reference point.
It became clear, through the insights from CGU and MPF, that Brazil has created a robust regulatory framework. In AML, the rule demands an effective KYC process right at customer registration — skipping this step means taking on risk and violating the law. Match-fixing, one of the ways money laundering occurs, was also widely discussed, as were the challenges posed by the LGPD (Brazilian data protection law).
A two-way street: challenges and sector maturity
Legitimuz Day was also an opportunity for authorities to hear the market’s concerns. It became evident that when it comes to AML and compliance, there is no competition — the entire sector benefits when everyone works hand in hand. Despite being regulated for only ten months, the evolution and maturity of compliance and anti-fraud teams are remarkable, often bringing valuable experience from the financial industry.
Beyond compliance: equity and social responsibility
We made a point of highlighting the importance of women in the betting industry. Although it remains a predominantly male environment, women have been gaining ground with unmatched brilliance. We advocate for a more equitable and diverse market.
To close on a meaningful note, the day after the event we turned our social commitment into action by delivering 150 food baskets to a vulnerable community in the Federal District. This initiative reinforces Legitimuz’s position as a company whose DNA goes beyond KYC and AML, embracing social responsibility as a core pillar of its presence in the Brazilian market.
To everyone who contributed to the success of this event — our deepest gratitude and sincere thanks!
Fred Justo
Former member of the Secretariat of Prizes and Betting (SPA), currently Director of AML at Legitimuz and one of the creators of Legitimuz Day
