SBC News Voice of the Sports Betting Industry
The Danish Gambling Authority, the Spillemyndigheden, has ordered Malta-based igaming operator Mr Green Ltd to re-evaluate its internal controls after failing to comply with local AML rules.
A review by the regulator has concluded that Mr Green exhibits “insufficient” business risk practices.
This comes in the form of lacking separate risk assessments for each individual aspect like the use of payment solutions, which is required under the AML Act to prevent money laundering and terrorist financing.
The ruling is in connection with the Danish Gambling Authority’s inspection of Mr. Green Limited’s materials that it has provided for compliance with the Anti-Money Laundering Act.
Another shortcoming is the absence of planned time intervals for the assessment and management of internal controls, with “not written procedures” of how these tasks should be carried out.
Therefore, there is also missing documentation that establishes any systematic reviews of relevant risk assessment performances – something required by AML regulations.
Finally, Spillemyndigheden has also reprimanded Mr Green Ltd over the lack of communication that the above shortcomings have taken place, which falls under the AML Act’s notification obligations.
As a result, Mr Green Ltd has been given a deadline to submit a revised risk assessment and a revised procedure for internal controls by 10 June 2024, together with all relevant documentation proving the implementation of corrections to the above failures by 10 October.
For SBC, a spokesperson for 888 said: “Following a routine audit of Mr Green by the Danish regulatory, Spillemyndigheden, we have three audit findings to address. We are working closely with the regulator and plan to make some minor amendments to our AML processes and accompanying documentation.”
