The Money Laundering Secretariat of the Danish Prosecution Service has opened a consultation on money laundering indicators, and the gambling sector participation has been encouraged.
Issuing an update to Danish betting and gaming stakeholders, the Spillemyndigheden – the Danish Gambling Authority (DGA) – has urged operators to engage with the Prosecution Service request for comment.
The authority noted that gaming stakeholders have previously “expressed a desire for more relevant indicators” of money laundering from relevant authorities – the consultation therefore poses an opportunity for firms to gain clearer information.
According to the DGA, the Money Laundering Secretariat has “indicated that they will accept proposals for more indicators relating to money laundering through gambling”.
As it stands, the Secretariat has just one indicator concerning gambling, listed on its website as ‘money laundering through gambling’, but the consultation could see this expanded to include other indicators.
“The indicators are an aid to those subject to notification and to the Money Laundering Secretariat, so that potential money laundering and terrorist financing can be better identified,” the DGA explained.
Operators interested in suggesting new indicators have been asked to send any input to [email protected] before 5 February 2024 with the subject line ‘Input for indicators’.
AML standards are a significant area for Danish operators to pay close attention to. Breaches of licensing requirements in this area have seen regulatory enforcement in the past such as against Tipwin and bet365 in 2022.
