Unibet ‘Denmark’ Limited, which is responsible for Kindred’s Danish business, has been ordered by the DGA to update its risk assessment.
The regulator said it uncovered a “number of breaches” during an inspection concerning the company’s AML obligations.
Gambling Insider reached out to Kindred for comment, who said: “As previously communicated Unibet ’Denmark’ Limited, which operates Kindred Group’s Danish business, has been reprimanded by the Danish Gambling Authority regarding past failings related to AML.
“Since then, Unibet has, in collaboration with the Danish Gambling Authority, updated its AML framework accordingly and will provide the DGA with an updated risk assessment.”
The DGA reprimanded Unibet for violating its rules on business procedures, know your customer (KYC) measures and politically exposed persons etc., as well as its rules on obligation to investigate and obligation to report.
It said, until 25 January this year, Unibet did not have “sufficient written business procedures for ongoing monitoring of existing customer relations.”
The DGA added that Unibet also lacked sufficient business procedures for collecting and assessing documentation in relation to suspected money laundering, as well as mitigating existing risks through certain payment methods.
A further reprimand was given for Unibet’s insufficient business procedures “for managing politically exposed persons, their family members and close associates,” as well as for not employing adequate KYC measures for five out of 20 high-roller customers inspected during a spot check.
Unibet also, according to the DGA, allowed a young player to deposit more than DKK 1m ($152,708) without adequate knowledge of his funds’ source.
The regulator has given the company two months to update its risk assessment, though said its reprimands do not entail an obligation to act since the breaches no longer exist.
“Kindred Group have the ambition to demonstrate the highest quality and standards in the industry and we are pleased to see that the DGA have now acknowledged that the breaches no longer exist,” added Kindred Group.
“Kindred has corresponded with the DGA on the matter in an open, transparent and productive manner throughout the process. We will continue with the collaboration and do everything necessary to further strengthen our control procedures maintaining our ambitions on offering high consumer safety and AML security.”
