Tag Archives: AML

The UK Gambling Commission (UKGC) has notified online licensees of compliance expectations and duties concerning customer account withdrawals. An update published by Commission CEO, Andrew Rhodes, references previous concerns about customers experiencing ‘delays when withdrawing funds’. As noted, late or delayed withdrawals are referenced as an action point of the Commission’s Business Plan and Budget 2023 to 2024. Concerns about …

Spillemyndigheden, Denmark’s gambling regulator, will join several national security branches in hosting an extensive case-based AML training. Taking place on 31 October in the capital city of Copenhagen, the training will welcome relevant shareholders who have a duty of reporting under the Danish AML Act. Together with Spillenmyndigheden, other attendee organisations  include the Danish Business Authority, the Danish Security and …

Online bookmaker Novibet has inked a new partnership with ID specialist FullCircl for the onboarding of the latter’s digital compliance tool W2.  Through the new deal, Novibet will aim to ensure full regulatory compliance across all of its active markets. W2 offers a combination of AML capabilities and a single API access point that will help safeguard the online betting …

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 …

Stakeholders in the Bulgarian gambling market will take part in a new initiative against AML/CTF alongside Bulgaria’s National Revenue Agency (NRA) and the State Agency for National Security.  The NRA is Bulgaria’s regulatory body that exercises control over the operator licensing process and taxation, with the news being shared during a general meeting organised by Director General Rumen Spetsov.  The …

The UK Gambling Commission (UKGC) has issued a £6m penalty against Gamesys following an investigation revealing social responsibility and Anti-Money Laundering (AML) failings. The £6m penalty has been imposed on the business entity Gamesys Operations Limited, the multi-brand operator of 16 websites including Ballycasino.co.uk, Doublebubblebingo.com, Jackpotjoy.com, and Megawayscasino.com. As part of the settlement, Gamesys will have to undertake a “third-party …

Kansspelautoriteit (KSA), the Gambling Authority of the Netherlands, has published its updated guidelines to help licensed operators (land-based and online) uphold the laws of The Money Laundering and Terrorism Financing (Prevention) Act (WwFT). The legal framework of the WwFT has been applicable as Dutch law since 2008, with the underlying aim to “prevent the financial system from being used for …

Finland’s Central Criminal Police have been conducting an extensive investigation into money laundering relating to a potential illegal gambling operation in the country. A preliminary investigation launched in 2022 estimated that between 2016 and 2022 several million euros were transacted via the illicit operation, which involved at least three individuals. All three are suspected of ‘aggravated money laundering’, with one …

Finansdepartementet, the Ministry of Finance of Sweden has moved to equalise AML fines and penalties across high-risk Swedish industries.  The decision has been welcomed by Swedish gambling trade association Branschföreningen för Onlinespel (BOS) on the condition that gambling revenue specifics are recognised by authorities. Last Friday, Finansdepartementet published a memorandum which outlined changes to the Money Laundering Act, citing that …

The Financial Intelligence Analysis Unit (FIAU) of Malta has ordered Malta MGA licensee Glitnor Group to pay €236,789 for non-compliance with Anti-Money Laundering (AML) rules.  The penalty is related to a compliance review carried out in 2019, and includes a reprimand in line with Regulation 21 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR). The FIAU …