IBIA Launches Payment Provider Forum to Tackle Financial Fraud in Brazil’s Betting Market

The International Betting Integrity Association (IBIA) has introduced a Payment Provider Forum to strengthen protections against financial fraud in Brazil’s sports betting industry. Six payment providers—Bazk, Z.ro Bank, OneKey Payments, OKTO, VPag, and Pay4Fun—have already joined by signing a Declaration of Commitment and Participation.

Strengthening Market Integrity

With Brazil’s sports betting sector expanding under a newly regulated framework, IBIA is focused on keeping the market secure. The organization’s members are expected to generate more than 70% of Brazil’s remote gambling revenue, positioning IBIA as a key player in ensuring integrity.

Payment providers play a critical role in preventing fraud linked to competition manipulation. The new forum aims to create collaboration between financial services and betting operators to maintain a secure environment.

Bringing Financial Institutions and Regulators Together

Regulators and institutions that oversee financial transactions and sports betting will be invited to participate in forum meetings. Their involvement will help shape preventive actions against fraudulent activities and financial misconduct.

IBIA will also contribute its global expertise in betting integrity, using data gathered from its monitoring network, which includes major regulated betting operators across six continents. The organization has a history of working with top sports bodies and gambling regulators to uphold industry standards, such as its Data Standards Kitemark.

A Push for Collaboration

Khalid Ali, CEO of IBIA, highlighted the importance of partnerships between financial services, regulators, and betting operators:

“Cooperation between financial services, regulatory authorities and betting operators is essential to address the challenges from financial fraud and to maximise the potential of the sector in Brazil. IBIA is therefore delighted that these major payment institutions have agreed to explore collaborative activities to protect the market. Working together, we can create a sustainable and thriving sports betting market in Brazil that benefits all stakeholders. Cross-sector partnership working is a central pillar of IBIA’s global activity, and the association will be assessing the potential benefits of replicating this group in a wider international setting.”

Forum Commitments

The payment providers involved have agreed to several commitments:

• Developing standards and best practices for secure payment processing
• Engaging with regulators to ensure fair and effective oversight
• Supporting responsible gambling efforts
• Sharing knowledge to enhance payment security and fraud prevention
• Maintaining strict compliance with ethical and regulatory standards

The forum’s first meeting is set to take place during SBC Rio, bringing together key industry players to discuss next steps in protecting Brazil’s sports betting market from financial fraud.