Danish Gambling Authority Issues Sanctions against Danske Licens Spil A/S

The Danish Gambling Authority recently took action against Danske Licens Spil A/S for failing to comply with the heightened client due diligence obligations contained in section 17(1) of the Anti-Money Laundering Act. Furthermore, the corporation was chastised for breaking the reporting obligations outlined in Section 26(1) of the same statute. These sanctions emphasize the importance of anti-money laundering compliance in the gambling business.

Danske Licens Spil A/S has been reprimanded by the Danish Gambling Authority for failing to adopt expanded client due diligence requirements. Despite signals such as significant transaction volume and multiple alerts to the Financial Intelligence Unit indicating an increased risk of money laundering, the corporation failed to conduct these procedures on a specific player at an early stage of the client relationship. As a result, Danske Licens Spil A/S failed to comply with the duty to conduct enhanced client due diligence.

In addition to the reprimand, Danske Licens Spil A/S was found to have violated the reporting rules established in section 26(1) of the Anti-Money Laundering Act. On two different occasions, the corporation failed to submit suspected transactions to the Financial Intelligence Unit, despite the fact that an inquiry found no evidence of money laundering. It is crucial to note that previous notifications made by Danske Licens Spil A/S about the customer did not free the organization from reporting additional suspicious activities.

Although Danske Licens Spil A/S has been reprimanded, it is important to note that these punishments do not impose any immediate duties on the company because the violations have been corrected.

According to the Danish Gambling Authority, compliance with heightened client due diligence processes and reporting duties is critical under the Anti-Money Laundering Act. Breach of these regulations usually results in reprimands, but in severe or recurrent cases, the police may be called.

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