The Danish authorities have fined Tipwin for violating the anti-money laundering regulations.
The DKK100,000 ($14,500/EUR13,400/PS11,500) penalty was imposed more than a year after Denmark’s Gambling Authority last June reported Tipwin to the police after identifying violations of the Danish Money Laundering Act.
Tipwin was fined DKK100,000.00 for violating two sections of the Act. The Act was passed on 3 July 2023. Spillemyndigheden has not confirmed who issued the fine.
In June of last year, the regulator charged the company with gross negligence and violation of rules relating to risk assessments, internal controls, and policies. Tipwin also received injunctions requiring compliance with the rules by September 2020.
Tipwin, a company based in Malta, is licensed to provide betting and online casino gaming services in Denmark. Tipwin also operates in Germany and Sweden.
Crackdown on Money Laundering
Spillemyndigheden is a Danish gambling regulator that has been focusing on AML in recent years. In recent months, injunctions have been issued against Tipwin and other operators, including Casumo Casino Copenhagen, and Be365.
It began a crackdown on AML starting in July 2022. This was in accordance with the Ministry of Justice’s new strategy.
