Denmark's financial regulator, the Danish Financial Supervisory Authority (Finanstilsynet), has taken action against the fintech company Inpay, imposing an injunction due to what it describes as "serious violations" of the Money Laundering Act. This injunction, announced on Monday, prohibits Inpay from onboarding new business customers within the online gaming sector until the firm can demonstrate to Finanstilsynet that the violations have been remedied.
Copenhagen-based Inpay A/S specializes in payment services for various industries, including online gaming. The company markets its offerings as low-cost, real-time, 24/7 cross-border payments for both businesses and financial institutions, handling transactions in fiat and cryptocurrencies.
This regulatory decision follows a money laundering inspection carried out by Finanstilsynet in March 2026. The inspection revealed significant lapses in Inpay's customer due diligence practices, particularly concerning the procedures required when a customer's situation changes. Additionally, the regulator flagged the company's failure to adequately evaluate the purpose and intended nature of business relationships with high-risk iGaming clients, which are susceptible to money laundering and terrorist financing. The report indicated that Inpay also fell short in terms of ongoing monitoring of transactions involving its iGaming customers.
According to Finanstilsynet, the majority of Inpay’s customer portfolio is implicated in these breaches, representing a substantial fraction of the company's transaction volume, much of which originates outside Denmark and the EU. The regulator asserted, "The deficiencies in the company's customer due diligence procedures and transaction monitoring pose a real and significant risk that the company is facilitating illegal gaming activities and providing payment services without the necessary licenses, which entails a particularly high risk of money laundering and terrorist financing."
As a result of these findings, the regulator has mandated that Inpay cease forming new customer relationships in the online gaming arena until it can prove to Finanstilsynet that it has rectified the substantial violations outlined in Sections 10(1)(1) and 11(1)(4) and (5) of the Money Laundering Act.
Inpay operates under Denmark's Danish Payments Act. Established in 2008, the company has offices in both Copenhagen and London, and was recognized in 2022 by the Financial Times' FT 1000 business ranking as Denmark's fastest-growing company. A request for comment was sent to Inpay, but no response had been received at the time of writing.
