Denmark’s gambling regulator has spanked online casino licensee Winteq for anti-money laundering (AML) shortcomings at its locally licensed sites.
On Tuesday, Denmark’s Spillemyndigheden regulatory body announced that an assessment had concluded Winteq ApS has “neglected to update their anti-money laundering and counter-terror financing risk assessment based on their business model, which includes identification, assessment and analysis of risk factors.”
Winteq’s Danish online casino license covers three local domains – Bingo.dk, Spildansknu.dk and Spilleautomaten.dk – offering a variety of online casino, bingo and skill/chance games such as backgammon.
While Spillemyndigheden was publicly vague about what led the regulator to conduct its assessment of Winteq’s operations, it nonetheless ordered the company to “adjust their procedures” and produce a risk assessment that fulfils all requirements of the country’s Anti-Money Laundering Act.
The Winteq warning comes four months after the regulator issued its revised guidance on preventive measures against money laundering of proceeds and financing of terrorism. It’s unclear if Winteq chose to read the CliffsNotes rather than the full document and missed a requirement or two along the way.
Like most regulators, Spillemyndigheden has been paying closer to its licensees’ marketing efforts. On April 1, Spillemyndigheden issued new executive orders that defined the information licensees are required to communicate when marketing gambling products.
These new requirements including citing the age limit of the game, listing Spillemyndigheden’s responsible gambling helpline and information about the ROFUS gambling self-exclusion registry. Oh, and Spillemyndigheden also wants its logo to appear somewhere in the ad.
Spillemyndigheden said it expects that the new rules will prompt questions from licensees, and it acknowledges that “there may be cases in which it is not possible to fully comply with the requirements.” The regulator promised to “soon” publish a guide detailing examples for operators to follow.