Online gambling operator 888 Denmark has been warned by the Danish Gambling Authority for breaching the Danish AML Act.
Spillemyndigheden has said that 888 Denmark’s procedures were not compliant with section 25 of the Act – requiring operators to investigate unusually large transactions, patterns and activities that aren’t clear for an economic or legal purpose.
Furthermore, the regulator says 888 Denmark also breached section 26 of the Act, by failing to report suspicious transactions, funds or activity to the State Prosecutor for Serious Economic and International Crime.
Giving an example, the regulator pointed to an instance where an individual customer made deposits of over DKK 1m ($148,533) into their account in the first three months after opening it.
Despite the operator performing background checks using publicly available online material, it wasn’t until the player in question made deposit of DKK 600,000 over the course of just a few days that they were asked to provide proof of assets or income.
The player failed to provide the required proofs, but 888 Denmark nevertheless allowed them to keep gambling for nearly a month before closing the account.
Spillemyndigheden says that, in this case, the operator should have acted much quicker to report the transactions and prevent the customer from playing.
888 Denmark has now been ordered to update its anti-money laundering procedures.
AYO.NEWS says:
Things are getting tougher all round for gambling operators in Denmark. Not only is Spillemyndigheden getting tough on AML compliance and reporting, as demonstrated by 888 Denmark’s case, but the tax burden shouldered by operators is set to rocket by a massive 40% in 2021 (read more).
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