Danish regulator warns Mr Green over money laundering rules breach

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The warning was in relation to how a “young player” was able to deposit approximately DKK325,000 (£39,539/€47,292/$53,642) into his gaming account over the course of a year, without, according to the regulator, Mr Green having “sufficient knowledge” on where the funds originated from. The regulator did not mention the age of this “young player”.

Spillemyndigheden said Mr Green carried out a series of internet searches on the customer and established both his type of employment and immediate level of earnings.

The regulator said Mr Green was of the view that the player was able to afford this level of spending. The operator therefore did not carry out further investigation to establish the source of funds.

However, Spillemyndigheden said Mr Green made an “erroneous” assessment of what the player did for work as well as his income. It said that the player’s deposits exceeded their disposable income.

As a result, Mr Green did not hold sufficient information on the player to dispel any suspicions of money laundering.

Spillemyndigheden ruled that Mr Green breached the Money Laundering Act but did not pursue any further action in addition to the reprimand as the operator subsequently put in place new business procedures for customer due diligence procedures and due diligence.

The regulator did note, however, that further breaches of the Money Laundering Act in a similar capacity or more serious cases could result in more action being taken, including the matter being reported to the police in the event of serious and repeated rule violations.

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