Iugu Strengthens Compliance in Brazil’s Growing Betting Market
Brazilian financial technology company Iugu recently met with representatives from the federal government to discuss its compliance protocols within the rapidly expanding sports betting market. The meeting included key figures from both Iugu and the Secretariat of Prizes and Bets (SPA).
Representing Iugu were Ricardo Destaole, Head of Bets, and Julio Macedo, Director of Risks & Compliance. The government delegation included Secretary of Prizes and Bets Regis Dudena, Deputy Secretary Carolina Yumi, and Carlos Renato, General Coordinator of Monitoring and Prevention of Money Laundering.
Proactive Security Measures
During the discussion, Iugu emphasized its proactive approach to identifying and blocking suspicious transactions, highlighting its ability to act within 24 hours. This rapid response is crucial in maintaining the integrity of the betting ecosystem.
“With the exponential growth of the market, it is increasingly necessary to have effective and immediate security and monitoring processes to investigate, suspend and report irregularities, as we do in accordance with the regulations of the Secretariat,” said Ricardo Destaole.
Dedicated Focus on Regulated Betting
Iugu has established a specialized division dedicated solely to the regulated betting market. This vertical connects various departments, including risks and compliance, to ensure comprehensive oversight and adherence to legal requirements.
Commitment to Compliance
This initiative underscores Iugu’s commitment to providing secure and compliant payment solutions for responsible and transparent operators in the betting sector. The company aims to be a strategic partner for those who prioritize ethical practices.
About Iugu
Founded in 2012, Iugu is a Brazilian technology company offering a comprehensive suite of financial infrastructure solutions. With approximately 200 employees, Iugu serves over 130,000 active accounts across diverse sectors, including education, SaaS, healthcare, and iGaming.
The company is backed by investors such as the Goldman Sachs Group and holds the 25th license granted by the Central Bank as a regulated Payment Institution.
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