Cashpoint Confined reprimanded by Danish regulator

Sports betting enterprise Cashpoint Minimal has been given a severe rebuke from the Danish Gambling Authority (DGA) for breaching Denmark’s Anti-Income Laundering (AML) Act.

The regulator has issued an purchase and two reprimands about the company’s failure to carry out an sufficient possibility evaluation in regard to revenue laundering and the funding of terrorism.

Its to start with reprimand was offered for the reason that Cashpoint Restricted “has not manufactured a sufficient identification” of the challenges linked to “customers, merchandise and payment methods”, whilst its next concerned the company’s business methods, which did not “sufficiently describe how, when and by whom precise actions were to be performed”.

In a statement, the DGA stressed the relevance of compliance with its procedures about threat assessments and small business processes.

“The Danish Gambling Authority notes that the policies on threat evaluation and business enterprise procedures are basic parts of the Anti-Money Laundering Act,” it remarked.

“Breaches of the procedures lead to an purchase or warning, and in circumstances of severe or recurring breaches, they lead to a report to the law enforcement.”

The regulator claimed its purchase obliges Cashpoint to submit an updated hazard assessment that “addresses the recognized failure.” Even so, the reprimands “do not entail an obligation to act”.

Cashpoint is part of the Gauselmann Team, and falls in just the German gaming company’s sports activities betting organization segment. It entered the Danish marketplace in 2012, establishing its national headquarters in Rødovre, near Denmark’s funds town, Copenhagen.

In addition, this information arrives not lengthy just after on the net casino operator Mr Eco-friendly received a warning from the DGA for AML violations.