Danish gambling regulator to participate in new AML strategy
Spillemyndigheden will be involved in new efforts against money laundering led by the Ministry of Justice.
Denmark.- Spillemyndigheden, the Danish gaming regulator, has confirmed that it will be involved in a new initiative against money laundering in the country. Led by the Ministry of Justice, the strategy will also involve Denmark’s Financial Supervisory Authority, Bar Council and the Danish Business Authority.
The Money Laundering Secretariat and Police Intelligence Services have identified currency exchange and money transfer, high-value goods, neo-banks, cryptocurrency, the gambling sector and some areas of the non-profit sector as those that pose the greatest risk for money laundering and terrorist financing.
The new five-pillar strategy running until 2025 aims to achieve more cooperation between public and private actors, more international collaboration and more use of digital and technological solutions. Danish police have already created a new AML unit.
Spillemyndigheden has reprimanded several operators for AML failings in recent months. It reported Tipwin to the police and picked up the land-based Casino Cosmopol for insufficient risk assessments and written procedures.
Justice minister Mattias Tesfaye said: “Criminal gangs and international tax evaders use money laundering to disguise their illegal profits. That must be stopped. Economic crime goes across national borders, and the fight against economic crime goes across authorities. Therefore, the government has already taken a number of initiatives to help stop the fraud.”
Minister of Trade and Industry Simon Kollerup said: “Money laundering is cheating the community, and we will never accept that. With the strategy, we take action against the criminals who exploit the system for their own gain.
“We strengthen the efforts at all levels so that the criminals are hit where it hurts the most. We do this through strengthened control and cooperation both nationally and internationally. The strategy is a visible proof that we are prepared to take all necessary steps towards strengthening the fight against economic crime.”
