Danish fintech company Inpay is facing restrictions after the Danish Financial Supervisory Authority (Finanstilsynet) imposed an injunction due to what it termed "serious violations" of the Money Laundering Act. This decision, announced on Monday, prevents Inpay from onboarding new business customers in the online gaming sector until it can prove to Finanstilsynet that it has rectified its compliance issues.
Headquartered in Copenhagen, Inpay A/S specializes in payment services for the online gaming industry and other sectors, offering real-time, low-cost cross-border transactions for businesses, including both fiat and cryptocurrency payments.
The injunction follows an inspection conducted by Finanstilsynet in March 2026, which revealed significant shortcomings in Inpay's customer due diligence processes. These failures included inadequate responses to changes in customer circumstances and a lack of assessment regarding the purpose and nature of business relationships with high-risk iGaming clients. Additionally, the regulator found that Inpay did not perform sufficient monitoring of outgoing transactions involving its iGaming customers.
Inpay acknowledged the seriousness of the FSA's decision in a statement addressed to iGB, noting that the order originated from the regular inspection conducted earlier this year. The firm indicated that it had preemptively decided to suspend onboarding new iGaming customers on July 27, stating, "Inpay's board decided on its own initiative to halt the establishment of new business customer relationships within online gaming, rather than wait for the decision."
The company assured that this injunction will only impact new customers in the online gaming sector, stating that current clients in both online gaming and other industries will not experience any disruptions.
Finanstilsynet outlined that the identified violations affect a significant portion of Inpay's customer base, which is primarily composed of clients outside Denmark and the European Union. The regulatory body expressed concern that these deficiencies pose substantial risks of facilitating illegal gaming operations and providing unauthorized payment services, which are associated with increased risks of money laundering and terrorist financing. Consequently, the firm is required to cease new customer relationships in the online gaming field until it can demonstrate adherence to the Money Laundering Act's stipulations.
Inpay, established in 2008 and licensed under Denmark’s Payments Act, operates offices in both Copenhagen and London. In 2022, it earned recognition as Denmark's fastest-growing company as per the Financial Times’ FT 1000 ranking.
