Danish regulator reports Tipwin to police

Tipwin has been reported to the Danish police for breaching several sections of the Nordic country’s Anti-Money Laundering Act.

spillemyndigheden tipwin gi web image
Listen To Article

The Danish Gaming Authority (DGA) has notified the police of violations related to Tipwin’s local land-based offer.

According to the DGA, Tipwin did not prepare a risk assessment regarding its sale of land-based betting products until 16 May this year.

By failing to prepare an assessment, the regulator said, Tipwin was unable to properly gauge the extent to which it was at risk “of being abused for purposes of money laundering or financing of terrorism.”

Furthermore, Tipwin lacked adequate business procedures and supervision concerning the provision of its land-based gambling products.

“Preparation of a risk assessment of the business’ business model is a fundamental means to mitigate the risk of money laundering of criminal proceeds,” said the DGA.

It added: “By neglecting to prepare a risk assessment, policies and sufficient business procedures for their provision of land-based gambling products, Tipwin has exposed itself to a significant risk of being abused for purposes of money laundering.”

Consequently, the case has been turned over to the police for investigation. Tipwin has also received an order from the DGA regarding its provision of land-based gambling. Besides the aforementioned issues, this also concerns staff training.

A further order has also been issued regarding Tipwin’s online casino and betting offer. The latter concerns notifications to the Money Laundering Secretariat.

The DGA has given Tipwin three months to “correct the matters concerning risk assessment, business procedures and the obligation to train staff.”


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...