The Danish Financial Supervisory Authority (Finanstilsynet) has imposed an injunction on Inpay, a fintech firm based in Denmark, due to what it cites as significant breaches of the Money Laundering Act. The mandate, revealed on Monday, prevents Inpay from engaging new business clients in the online gaming sector until it can provide evidence to Finanstilsynet that these violations have been addressed.
Inpay A/S, headquartered in Copenhagen, specializes in payment services within the online gaming sector as well as various other industries. The company claims to facilitate low-cost, real-time, round-the-clock cross-border payments for businesses and financial institutions, accommodating both fiat and cryptocurrency transactions.
This decision from Finanstilsynet follows a money laundering compliance inspection conducted in March 2026. The regulator highlighted that the violations were primarily due to inadequate customer due diligence practices, especially when customers' circumstances change, and a failure to fully evaluate the purposes of business relationships with high-risk iGaming clients potentially exposed to money laundering or terrorist financing. Furthermore, concerns were raised regarding insufficient monitoring of transactions involving its iGaming customer base.
Responding to the news, Inpay stated it takes the FSA’s ruling seriously, noting that it arose from the regular inspection conducted earlier this year. The firm confirmed it proactively decided on July 27 to stop onboarding new iGaming customers, a step taken independently of the regulatory order.
Despite this temporary measure, Inpay reassured that its existing business relationships, both within online gaming and other sectors, would remain unaffected by the injunction.
Details from Finanstilsynet revealed that the deficiencies impacted the bulk of Inpay’s customer portfolio, which constitutes a significant portion of the firm’s total transaction volume, much of which originates from outside Denmark and the EU. The regulator expressed concern that these compliance failures posed considerable risks of facilitating illicit gaming activities and offering payment services without appropriate authorization, thereby heightening the chances of money laundering and terrorist financing.
As a licensed entity under Denmark’s Payments Act, Inpay was established in 2008 and maintains offices in both Copenhagen and London. The company was recognized as the fastest growing firm in Denmark in 2022 by the Financial Times’ FT 1000 business ranking.
