Danish regulator raps Reel Denmark for AML violations

Spillemyndigheden has found Reel Denmark failed to ensure sufficient knowledge of a player’s source of funds.

Denmark.- The national gambling regulator Spillemyndigheden has given the operator Reel Denmark Limited a ticking off for violating anti–money laundering rules.

The operator had judged that a player could afford deposits made despite them being more than their salary after tax.

It found Reel breached Denmark’s Money Laundering Act by letting a player deposit DKK2.4m (€320,000) between 2019 and 2020 without it gaining sufficient knowledge of the player’s source funds.

Reel only requested information on the player’s income and employment when Spillemyndigheden conducted a random check in the middle of 2021.

Spillemyndigheden said: “It is Spillemyndigheden’s assessment that Reel has violated the rules on customer due diligence procedures by not obtaining information on the player previously. 

“It is also the Spillemyndigheden’s assessment that Reel should have investigated the player’s circumstances further, as the income and employment conditions were not sufficient to dispel a suspicion of money laundering – therefore, Reel has violated the rules of duty of investigation.”

The regulator will take no further action in this instance, noting that Reel has since introduced new customer due diligence procedures. Last month, the regulator reprimanded Mr Green for similar failings.

See also: Danish gambling revenue up 3.5% in 2021