Denmark issues warning to 888
The gambling regulator in Denmark has issued a warning to operator 888 and ordered it to amend its anti-money laundering procedures.
Denmark.- Anti-money laundering (AML) is a serious topic in the gaming industry. That’s why Denmark has hit 888 and its local branch with a warning about its procedures.
The Danish Gambling Authority, Spillemyndigheden, ordered the company to amend its procedures to comply with the Danish AML Act. According to the regulator, 888 Denmark didn’t satisfy section 25 of the Act. It demands companies to investigate unusually large transaction patterns and activities without a clear economic or demonstrable legal purpose.
The company also seems to have failed to comply with section 26 of the Act. That one addresses reporting suspicions on transactions, funds or activities associated with money laundering to the State Prosecutor for Serious Economic and International Crime.
The gambling regulator in Denmark warned 888 after a customer deposited more than €130k just three months after opening it. The customer failed to provide proof of assets or income after another €80k deposit, but the company let him play.
