Casino Copenhagen has received a reprimand from the regulator due to several failings in its anti-money laundering (AML) policies. The regulator identified multiple issues, including inadequate risk assessments and deficiencies in the company's procedures.
The first reprimand was related to violations of section 7, subsection 1 of the Act, where the regulator found that Casino Copenhagen conducted an 'incomplete' assessment of its potential business risks, failing to adequately assess various factors such as payment methods and customer types.
Additional reprimands highlighted a lack of written business procedures, indicating that Casino Copenhagen did not maintain comprehensive descriptions for conducting business-related tasks. Failings in relation to politically exposed persons, customer due diligence, and investigation duties were noted. The third reprimand further emphasized that insufficient material prevented verification of whether appropriate policies were implemented.
The fourth failing pointed out that the educational materials used for employee training were 'of a general nature' and lacked sufficient information on anti-money laundering practices.
A final failing pertained to section 35 of the Act, which noted the absence of anonymity in Casino Copenhagen's whistleblower scheme, potentially deterring employees from reporting issues.
Spillemyndigheden ordered Casino Copenhagen to revise its risk assessment policies, specifically to include the assessment of winnings confirmation.
While the regulator acknowledged that Casino Copenhagen is not required to act on prior prosecutions, as the casino had submitted an updated risk assessment, business procedures, policies, training materials, and an updated whistleblower scheme, it must still provide an updated risk assessment that includes the assessment of winnings confirmation.
The Gambling Authority stated that the requirements for risk assessment, business procedures, policies, training materials, and the whistleblower scheme are fundamental under the Money Laundering Act. Violations of these rules typically lead to either an injunction or reprimand, and in severe or repeated instances, to police reporting.
Recently, Spillemyndigheden also reported the German operator Tipwin to the police for breaches of Denmark's Money Laundering Act.
