The Danish Gambling Authority has warned Mr Green for breaching two regulations of its Anti-Money Laundering Act.
The warning stems from insufficient checks carried out by the online casino operator, with a young player allowed to deposit DKK 325,000 ($45,000) into an account without Mr Green “having sufficient knowledge about whether or not the player’s funds originated from criminal proceeds.”
Therefore, the Authority argues that Mr Green failed in its obligations over Know Your Customer (KYC) checks and investigations. The Authority continued to argue that the KYC is an essential tenet of the Anti-Money Laundering Act, with the operator’s failure to complete the appropriate checks deemed “incorrect.”
In this specific situation, Mr Green argued that it had, via internet searches, learned of the player’s profession and their approximate income. In the company’s opinion, the player was able to finance their gambling within this income level, despite having deposited more than their disposable income. For this reason, Mr Green chose not to continue its investigations.
The regulator, known locally as Spillemyndigheden, found that Mr Green’s assessments were inaccurate regarding the player’s profession and income levels, meaning the operator had insufficient knowledge of the young bettor.
The authority upholds that Mr Green should have further investigated the player’s assets and income, as initial checks were not deemed appropriate to rule out a suspicion of money laundering.
Other than a warning, no further action was taken by the Authority, with Mr Green subsequently introducing new procedures for KYC measures and the obligation to investigate.
In August 2021, Mr Green also found itself in trouble with the regulators, and was handed a $3.6m fine by the Swedish Gambling Authority for failing to adhere to customer wellbeing principles.
It was adjudged to have fallen foul of duty of care and anti-money laundering regulations.