Brazil’s Federal Police has launched Operation Véu de Maia to investigate an alleged money laundering and tax evasion scheme connected to illegal fixed-odds betting.
The operation is being carried out after information from the Ministry of Finance’s Prizes and Betting Secretariat (SPA) indicated that 87 companies may have been used as fronts to move funds for irregular betting operators.
Nine search and seizure warrants are being executed, alongside personal searches, in Aparecida de Goiânia, Goiânia, São Paulo, Ribeirão Preto, Porto Alegre and Canoas.
Investigators are also examining the possible transfer of funds abroad through crypto-assets. Those under investigation may face charges including money laundering, tax evasion, organized crime and other offenses identified during the investigation.
The case comes as Brazil continues to police the boundary between its regulated betting market and operators outside the federal licensing system.
Since January 1, 2025, only companies incorporated in Brazil and authorized by the SPA have been permitted to offer fixed-odds betting in the country.
Licensed operators are subject to tax, advertising, anti-money laundering and responsible gambling obligations.
Enforcement has become a larger policy issue as the Brazilian Government seeks to prevent unlicensed operators from using payment structures, corporate fronts or offshore arrangements to keep serving local customers.
In June, President Luiz Inácio Lula da Silva signed a decree allowing authorities to freeze assets linked to illegal online betting platforms, with seized funds directed toward public security purposes.
Brazil has also moved against adjacent products considered to resemble betting activity. In April, authorities blocked 27 prediction market platforms and tightened rules around event-linked derivatives, citing concerns over unregulated gambling-style products.
The Federal Police investigation therefore sits within a broader enforcement phase, where regulatory supervision, financial monitoring and criminal investigations are increasingly linked.
Earlier this month, Brazil’s joint congressional committee approved a measure to increase the share of betting proceeds transferred to the Federal Police fund, Funapol, from 1% in 2026 to 3% from 2028.
Operation Véu de Maia was launched one day before the latest congressional discussions on betting-linked public security funding were expected to continue
