Danish regulator raps Mr Green over source of funds failing

Spillemyndigheden found that Mr Green allowed a young player to deposit a large amount without providing details of where the funds came from.

Denmark. The national gambling regulator Spillemyndigheden has given Mr Green a ticking off after finding it had breached rules on the assessment of players’ sources of funds.

Mr Green was found to have allowed what the regulator described only as a “young player” to deposit around DKK325,000 (€47,292) into his account over 12 months without Mr Green having “sufficient knowledge” of where the funds came from.

Spillemyndigheden said Mr Green carried out a series of internet searches on the customer and believed it had discovered his type of employment and level of earnings. The operator formed the opinion that the player could afford his spending and didn’t conduct further enquiries.

However, Spillemyndigheden said Mr Green’s assessment of what the player did for a living was “erroneous” and that player’s deposits exceeded his disposable income. The regulator said that as such Mr Green did not have enough information on the player to rule out money laundering and hence had breached Denmark’s Money Laundering Act.

The regulator has chosen not to take further action, noting that Mr Green had put new due diligence procedures in place.

However, it warned that any similar or more serious breaches of the Money Laundering Act in the future could result in action being taken, including the possibility of police being informed if the violation was serious. 

In August, Mr Green was fined €3.1m for responsible gambling failings in Sweden. Spelinspektionen has issued two warnings and penalty fees against Mr Green for breaches of know-your-customer (KYC), anti-money laundering (AML) and responsible gambling rules.

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