iGaming software solutions provider SOFTSWISS is progressing toward certification for its Casino Platform and Sportsbook in Brazil. The company said it is undergoing evaluation by an authorized testing laboratory as it prepares to meet key requirements in the growing Brazilian market.
Last year, SOFTSWISS obtained GLI-19 and GLI-33 certifications, which act as a solid foundation for meeting Brazil’s regulatory standards. Through close consultations with certifying laboratories, SOFTSWISS has identified key priorities set by the Brazilian Government, including player registration, Know Your Customer (KYC) protocols, and responsible gambling practices, the company said in a statement.
“We view Brazil as a highly promising region and are encouraged by the progress in local regulation as well as by the proactive efforts of local authorities to refine and enhance the existing legal framework,” Andrey Starovoitov, Co-CEO at SOFTSWISS, said.
“The stringent requirements for gambling software emphasize responsible gambling and public protection, which regulators aim to balance effectively with business interests. It’s clear that the Brazilian Government is working diligently to maintain the appeal of white labeling within this market, ensuring a healthy environment for both operators and players.”
Brazil’s regulatory approach places a strong emphasis on a robust registration process designed to mitigate potential risks for both players and operators. Notably, the regulation requires new players to provide a CPF number (Brazilian Individual Taxpayer Registry Number) during registration.
The system verifies the number to prevent users from creating multiple accounts as well as guarantees that registrations are made with accurate personal details, reducing fraud risks. This measure will be crucial in preventing underage gambling, protecting self-excluded individuals, shielding operators from bonus abuse through account multiplicity, and enabling the government to monitor tax compliance on winnings.
Brazil’s regulatory framework is also expected to introduce enhanced KYC procedures. Specific user actions, such as password resets or profile updates, may require additional verification steps. A possible implementation is a liveness check, necessitating technical upgrades to most existing platforms. This approach ensures higher security and compliance, safeguarding both operators and end-users.
The company said it has significant experience in this area and is prepared to meet Brazil’s regulatory requirements. SOFTSWISS has helped operators recover approximately 6 million euros ($6.6 million) through its Anti-Fraud team in the first half of 2024. SOFTSWISS has also received industry recognition, including the SiGMA Africa Awards, for its work in responsible gambling.
As part of its expansion in Brazil, SOFTSWISS appointed former F1 driver Rubens Barrichello as Non-Executive Director in Latin America earlier this year.
Original article: https://www.yogonet.com/international/noticias/2024/08/15/75348-softswiss-advances-toward-certification-in-brazil-for-casino-and-sportsbook-platforms
