Spillemyndigheden – Denmark’s Gambling Authority – has filed a police report against betting operator Tipwin over multiple breaches of the country’s Anti-Money Laundering (AML) Act.
Tipwin stands accused of significant AML failures related to the risk assessment, business procedures and financial supervision of its retail venues operating across Denmark.
Pertinently, Spillemyndigheden stated that the mobile betting platform had carried out no customer risk assessments across its land-based units until May 16 this year, and was left with no option but to notify police of Tipwin’s activities.
A statement from Spillemyndigheden read: “Moreover, Tipwin did not have sufficient business procedures for and supervision of their provision of land-based gambling products in relation to Anti-Money Laundering up until May 25, 2022.”
Tipwin is said to have neglected Danish AML rules, in which it had no appropriate oversight or controls to report on the extent to which its retail units were being exposed to abuse by money laundering and other criminal activities.
The Danish Gambling Authority’s investigation also uncovered that Tipwin had provided no staff training on AML monitoring procedures across its retail venues., despite it being compulsory in the country.
Tipwin venues could not provide information to the regulator on transactions carried out by use of self-service terminals, prize receipts and credit vouchers.
However, Spillemyndigheden has chosen not to suspend Tipwin retail units.
Instead, the company has been given a three-month deadline to correct its AML deficiencies with regards to customer risk assessment, in-store controls and staff training.