Brazil's Deputy Attorney General Seeks Full Transparency in Betting Company Ownership

Brazil's Deputy Attorney General has lodged a formal complaint with the Federal Court of Accounts (TCU), advocating for complete transparency in the authorization processes for betting establishments. The complaint specifically demands that the Ministry of Finance cease the practice of concealing or redacting the names of partners and ultimate beneficiaries of these companies.

Deputy Prosecutor Lucas Rocha Furtado initiated the action, challenging the partial secrecy surrounding data within the licensing procedures. This move directly counters an earlier announcement by Minister of Finance Dario Durigan, who had indicated that while information from these processes would be released, the names of betting company partners would be redacted. Durigan cited data protection legislation as the reason for concealing what he deemed sensitive information.

However, Furtado contends that such concealment is not supported by either the Brazilian Constitution or the nation's Access to Information Law (LAI). He argues that this practice undermines fundamental principles of transparency and morality, particularly within the iGaming sector, which he characterizes as high-risk and economically significant, thus requiring robust social and institutional oversight.

In his formal representation, Furtado asserts that there is no valid legal foundation in public transparency regulations that permits the imposition of secrecy on the identities of company partners and ultimate beneficiaries. He stressed that understanding a company’s corporate structure and the individuals who ultimately benefit from it are critical for effective regulatory supervision. Furtado underscored that the Constitution views secrecy as an exception, requiring a clear legal basis and proper justification, rather than a blanket rule to protect private interests.

The Deputy Attorney General's petition requests that the TCU instruct the Treasury to ensure full disclosure, prohibiting any generalized secrecy or the redaction of names. Additionally, he calls for an audit of the Secretariat of Prizes and Bets (SPA) to pinpoint any acts, ordinances, or guidelines that have enabled the disclosure of redacted licensing processes. As an immediate precautionary measure, Furtado has also requested an order for both the Treasury and SPA to immediately cease redacting names from these crucial documents.