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Tipwin fined in Denmark for AML failings after police investigation.

Tipwin fined in Denmark for AML failings after police investigation.

Gambling operator Tipwin has been fined in Denmark for breaching anti-money laundering (AML) rules.

The DKK100,000 ($14,500/€13,400/£11,500) penalty became as soon as imposed more than a year after Denmark’s Gambling Authority perfect June reported Tipwin to the police after identifying violations of the Danish Money Laundering Act.

Tipwin subsequently obtained a provisional stunning of DKK100,000 for breaching two subsections of the Act, which became as soon as adopted on 3 July 2023. Spillemyndigheden did not ascertain who had issued the stunning.

Final June, the regulator accused the business of grossly and negligently violating principles concerning risk assessments, policies and internal controls. Tipwin became as soon as additionally issued with injunctions demanding compliance with principles by September 2022.

Malta-headquartered Tipwin is licensed to provide making a bet and online casino video games in Denmark. It additionally operates in Germany, Sweden and Austria.

Crackdown on money laundering

Spillemyndigheden has made AML some extent of emphasis in most current years. Besides Tipwin, diversified operators that maintain faced injunctions for AML causes in most current months consist of Casumo, Casino Copenhagen and Bet365.

In July 2022, it started an AML crackdown per the Ministry of Justice’s original strategy.

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