🛁 Brazil🇧🇷: Federal Police investigate a money laundering scheme linked to tax evasion and illegal betting

🛁 Brazil🇧🇷: Federal Police investigate a money laundering scheme linked to tax evasion and illegal betting

On July 6, Brazil's Federal Police carried out a special operation dubbed “Veil of Maya”, uncovering an alleged money laundering scheme involving 87 companies that were used to channel funds from illegal betting operators and, allegedly, transfer money abroad through cryptocurrencies.

😮 The investigation was launched following information provided by the Ministry of Finance's Secretariat for Prizes and Betting (SPA), which identified a network of companies allegedly operating as money mules to conceal the origin of funds and facilitate their movement.

😮 In three Brazilian states (Goiás, São Paulo and Rio Grande do Sul), federal agents executed 9 search and seizure warrants. Authorities have not yet released further details about the individuals involved.

😮 Context:

➡️ In June, Brazil's Minister of Justice and Public Security stated that 25.2 million citizens use illegal betting websites.

➡️ It is estimated that between 41% and 51% of gambling operators operate outside the country's regulatory framework.

➡️ The illegal gambling market recorded USD 3.16 billion in transaction volume in 2025.

😮 Background: the operation's name is derived from the Hindu concept of the “Veil of Maya.” In Vedic philosophy, the veil symbolizes the illusion that obscures the true nature of reality, causing people to perceive only its superficial appearance. According to the authorities, the name reflects the objective of exposing a criminal structure designed to conceal the origin and destination of illicit funds.

#news #Brazil #gambling #scam

🌎 payplanet.com verified partner for LatAm, India🇮🇳 Turkey🇹🇷 @pay_planet