The Danish Gambling Authority recently unveiled an updated version of its Anti-Money Laundering (AML) Guidance. This revision aims to enhance the prevention of money laundering and the financing of terrorism within the gambling sector.
This updated guidance targets gambling operators, their employees, and other relevant stakeholders. It serves as a supplement to the Danish Financial Supervisory Authority’s existing guidance on preventive measures against money laundering and terrorism financing. Before its release, the revised guidance underwent consultation with various external stakeholders to ensure comprehensive input.
Significant changes have been made, particularly in sections 3, 4, and 6, which cover risk assessment, policies, procedures, controls, and customer due diligence. The revision includes more examples to clarify the rules better. Additionally, linguistic adjustments were made throughout the document to improve clarity.
Introduction of AML Inspection Guidance
A notable outcome of the consultation process is the creation of a new document: the Guidance on the Danish Gambling Authority’s AML Inspections. This guidance consolidates information previously found in the Anti-Money Laundering Guidance, detailing the inspection process, potential reactions, and confidentiality aspects. This separation delineates the Authority’s responsibilities from the obligations gambling operators must meet under the Anti-Money Laundering Act.
The updated Anti-Money Laundering Guidance includes a version history, allowing stakeholders to track changes in specific sections. The Danish Gambling Authority commits to ongoing updates of the guidance, reflecting any changes to the Anti-Money Laundering Act, new national risk assessments, and evolving practices.
All updates will be announced on the Authority’s website, with the version number on the front page of the guidance indicating new releases. The updated guidance documents can be accessed under the “Businesses and Associations” section, specifically within “Prevention of Money Laundering” and “Guidances”.
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