Brazil’s betting licensing process is facing renewed scrutiny after a federal prosecutor asked the Federal Court of Accounts (TCU) to review the Ministry of Finance’s approach to transparency in operator authorisations.
The request was submitted by Deputy Prosecutor General Lucas Rocha Furtado, who argues that the names of shareholders, administrators and beneficial owners of licensed betting companies should not be broadly withheld from public disclosure.
The representation follows the Ministry of Finance’s recent announcement that it plans to publish more than 25,000 documents related to betting license applications and authorisation processes. According to the Ministry, the documents will undergo prior treatment to remove personal information and legally protected data before publication.
Furtado questioned whether there is sufficient legal basis for what he described as an important restriction on information relating to companies operating in a sector with significant implications for taxation, anti-money laundering efforts and financial system integrity.
In the filing, he argued that transparency surrounding ownership structures is essential for oversight by regulators, control bodies, journalists and civil society organisations.
The prosecutor has asked the TCU to conduct a specific review of the Ministry of Finance and the Secretariat of Prizes and Betting (SPA) to determine which legal opinions, technical notes, internal guidelines or regulations support the decision to publish documents with redacted ownership information.
As a precautionary measure, Furtado asked the Court to prevent the Ministry and the SPA from systematically concealing the identities of shareholders, administrators and beneficial owners if no clear legal justification is identified.
The TCU is now expected to evaluate the request and determine whether additional investigations or oversight measures are necessary. Depending on the Court’s assessment, it could order further inquiries, launch a dedicated audit, issue precautionary measures or dismiss the case.
Brazil’s betting industry could face additional costs from 2027 under the country’s new Selective Tax (IS), commonly referred to as the “sin tax,” which will also apply to alcohol, tobacco and sugary drinks