Danish regulator raps Casumo for risk assessment failings

Spillemyndigheden found that the online casino operator’s risk assessments were lacking.

Denmark.- The gambling regulator Spillemyndigheden has reprimanded the online gambling operator Casumo for breaching the Danish Money Laundering Act through failings in its risk assessments. The regulator found that until March 11, Casumo did not have adequate identification and risk assessment of customer types.

Its risk assessments also failed to include separate identification and risk assessment for different types of products. The operator also failed to identify and risk-assess delivery channels as required because it had no risk assessment of its mobile app.

Spillemyndigheden concluded that as a result of the above oversights, Casumo’s risk assessment did not sufficiently ensure that its offering was not misused for money laundering or terrorist financing. No further action will be taken since Casumo has already amended the situation and because Casumo gave up its Danish licence in April and no longer offers online gambling in the country.

Last week, Spillemyndigheden issued a series of reprimands against Casino Copenhagen in the Danish capital. It found the casino had committed several breaches of the Danish Money Laundering Act by failing to compile risk assessments, among other issues.

Earlier in the month, the regulator reported Tipwin to the police for breaches of Denmark’s money-laundering rules. It says the German operator breached the Money Laundering Act by failing to prepare a risk assessment and to have written policies for retail betting.