Brazil central bank admits flaws in stopping welfare fund gamblers

The Brazilian Central Bank has acknowledged that there are technical barriers to stepping in when recipients use welfare money for gambling purposes.

The Brazilian government's social security and pensions agency, the National Institute of Social Security, formally requested assistance from the Central Bank of Brazil on Monday in putting into practice a plan to stop social benefit recipients from engaging in online gambling.

 

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The Brazilian Central Bank has admitted facing technical challenges in preventing welfare recipients from using their benefits for gambling. On Monday, the National Institute of Social Security formally requested the Central Bank’s assistance in implementing measures to block social benefit recipients from engaging in online gambling. This move highlights growing concerns over the misuse of government funds intended for social welfare, as authorities seek effective strategies to address the issue.