Denmark's financial regulator, the Danish Financial Supervisory Authority (Finanstilsynet), has issued a temporary injunction against Inpay, a fintech firm based in Copenhagen, due to what it has classified as grave breaches of the Money Laundering Act. This action was made public on Monday and prohibits Inpay from onboarding new business customers within the online gaming sector until it can demonstrate compliance with the regulator's requirements regarding money laundering violations.
Inpay A/S specializes in payment solutions for online gaming and other industries, providing low-cost, real-time cross-border payment services that accommodate both fiat and cryptocurrency transactions. The enforcement action follows a money laundering inspection conducted by Finanstilsynet in March 2026.
According to the regulator, Inpay failed to adequately implement customer due diligence measures when there were changes in customer circumstances. It also did not sufficiently assess the nature and intended purpose of its business relationships with higher-risk iGaming clients, which are more susceptible to money laundering or terrorist financing. Additionally, Finanstilsynet found that the firm lacked appropriate outgoing monitoring procedures for its iGaming customers.
Inpay has acknowledged the seriousness of the matter in a statement provided to iGB, noting that the injunction results from the regular inspection carried out by the Danish FSA in March 2026, which evaluated the company's anti-money laundering controls.
On July 27, prior to the announcement of the injunction, Inpay's board had voluntarily decided to cease the establishment of new business relationships within the online gaming sector. The firm clarified that this action would not impact its existing business customers in online gaming or other areas, indicating that only new customer onboarding would be temporarily suspended.
Finanstilsynet outlined that the failures in customer due diligence procedures and transaction monitoring apply to a significant majority of Inpay's customer base, which is composed largely of clients from outside Denmark and the European Union. The regulator warned that these deficiencies carry a substantial risk that Inpay may facilitate illegal gaming activities and provide payment services without the necessary licenses, thus increasing the risks associated with money laundering and terrorist financing.
As per the injunction, Inpay must refrain from establishing new business relationships in online gaming until it can prove to the Danish Financial Supervisory Authority that it has rectified the serious breaches of specific sections of the Money Laundering Act.
Inpay, founded in 2008 and licensed under Denmark's Danish Payments Act, operates offices in both Copenhagen and London. The company was recognized as Denmark's fastest-growing enterprise in the Financial Times' FT 1000 business ranking in 2022.
