Denmark's Financial Supervisory Authority (Finanstilsynet) has ordered Inpay to stop onboarding new players due to significant failures in its anti-money laundering (AML) compliance processes. This prohibition will remain until the agency deems that the identified breaches have been adequately addressed.
The supervision sparked from an AML review conducted on Inpay in March 2026, revealing flaws in the company's due diligence when processing customer onboarding applications. The regulator found that Inpay did not consistently conduct proper checks as customer information changed, nor did it sufficiently assess the purpose and nature of business relationships with high-risk iGaming clients. Furthermore, there were deficiencies in monitoring transactions of customers involved in online gaming.
Finanstilsynet highlighted that these compliance issues affect a majority of Inpay's clients, making up a significant portion of the transactions processed by the company, many of which are outside Denmark and the broader European region. The existence of these gaps raises concerns about Inpay's potential use for money laundering and terrorism financing.
Inpay is prohibited from forming partnerships with online gaming companies until it obtains approval from the regulator, which will confirm that the necessary steps have been taken to comply with Denmark’s Anti-Money Laundering Act. The company stated that it recognizes this ruling and aims to resume working with new customers in the iGaming sector starting July 27.
Current customers can continue to use Inpay’s services without any disruptions. The nature of the ruling suggests that no actions will be taken against existing customers who are already utilizing Inpay's services. Established in 2008 in Copenhagen, Inpay is a payment service provider that specializes in cross-border transactions involving both fiat and cryptocurrency.
