Spillemyndigheden, Denmark’s Gambling Authority, has reported mobile betting platform Tipwin to the police over alleged breaches of the country’s Anti-Money Laundering act.
The gambling authority has accused Tipwin of ‘significant’ failures relating to the Danish AML act’s risk assessment, business procedures and financial supervision of its retail venues across Denmark.
Highlighting one major concern, Spillemyndigheden claims Tipwin carried out no customer risk assessments through its land-based units until 16 May, 2022.
The mobile betting platform is said to be in breach of neglecting Danish AML rules, in which it had no appropriate oversight or controls to report on the extent to which its retail units were being exposed to abuse by money laundering and other criminal activities.
Spillemyndigheden briefed in a statement: “Tipwin did not have sufficient business procedures for and supervision of their provision of land-based gambling products in relation to Anti-Money Laundering up until 25 May 2022.”
Further into its investigation, the Danish gambling authority is believed to have found no compulsory staff training carried out by Tipwin on AML monitoring procedures across its retail venues.
Tipwin venues could not provide information to the regulator on transactions carried out by use of self-service terminals, prize receipts and credit vouchers. Despite this, the gambling authority did not authorise the betting platform to shut down its stores, opting for a three-month deadline for the betting platform to correct its AML handlings.