Brazil’s Finance Minister Dario Durigan has highlighted illegal betting enforcement as an example of why closer cooperation between the country’s economic authorities is becoming increasingly important.
Speaking during a podcast hosted by investment firm Warren Investimentos, Durigan defended Brazil’s current 3% inflation target while arguing that there is room to improve coordination between the Finance Ministry and the Central Bank across a range of policy areas.
Among the examples cited by the minister was the fight against illegal gambling operators, which has become a growing focus for regulators since the launch of Brazil’s regulated betting market.
“Today, I would not change the inflation target, but I think there is a lot of room for improvement in the relationship between the economic team and the Central Bank,” Durigan said.
According to the minister, enforcement against illegal betting platforms demonstrates why regulatory agencies need to operate in a more coordinated manner.
“For example, we are currently discussing betting enforcement. It is important to have the Central Bank very close because the money from illegal betting operations moves through the financial system. There needs to be convergence in how we act,” he said.
The Central Bank has also taken a more active role in monitoring payment flows linked to illegal gambling activity, while the Secretariat of Prizes and Betting (SPA) continues to lead licensing, supervision and enforcement efforts across the regulated sector.
Durigan’s remarks reinforce his position that regulation and enforcement, rather than prohibition, remain the preferred approach to the betting market.
Brazilian authorities have blocked more than 39,000 illegal betting websites as part of ongoing efforts to strengthen enforcement against unlicensed operators
