Europe Asia News

Brazilian President Luiz Inácio Lula da Silva enacted a new administrative and legal measure against illegal betting and gambling activities.

Under the regulation signed in the capital Brasília, authorities aim to block access to financial resources of betting companies operating illegally and stop the flow of funds linked to such activities.

The implementation will be coordinated by Brazil’s Ministry of Finance and the Ministry of Justice and Public Security, while financial monitoring and intelligence capabilities will also be integrated into the process.

It was further announced that assets frozen under the new regulation will be transferred to the National Public Security Fund after legal procedures are completed and will be used in the fight against organized crime.