Beneficiaries of Brazil's Bolsa Família social welfare program have transferred billions of reais to betting sites using the instant payment system PIX, according to a recent study.
Postada em 28/09/2024 às 05:26
Por Instant Payment
The study, conducted by the Brazilian Central Bank, found that beneficiaries transferred approximately R$3 billion to betting sites between November 2021 and April 2022. This represents a significant increase compared to previous years, when such transfers were typically much lower.
The findings have raised concerns among policymakers, who worry that beneficiaries may be using the money intended for basic necessities to gamble. The Bolsa Família program is designed to provide financial assistance to low-income families, and the government is concerned that beneficiaries may be diverting these funds to non-essential activities.
The Central Bank is currently investigating the matter and is considering measures to restrict or prevent beneficiaries from using PIX to transfer funds to betting sites. The government is also considering providing financial education to beneficiaries to help them manage their money more effectively.