Wednesday, October 5, 2022
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Casumo reprimanded for Danish AML breaches

Casumo has been reprimanded by the Danish Gambling Authority, the Spillemyndigheden, for breaching the rules on identification and risk assessment in the Anti-Money Laundering Act. 

The regulator noted that the operator, which as of April 18, 2022, withdrew their licence and no longer offers online gambling in the market, has no obligation to act due to a subsequent update of risk assessment protocols.

One of the reasons that this action was taken is that Casumo, up until March 11, 2022, did not sufficiently include identification and risk assessment of customer types as it is said to have lacked identification and risk assessment of temporary accounts.

Furthermore, the online casino and sports betting firm was identified as not having sufficiently included a separate identification and risk assessment of their products, since their provision of gambling products did not appear separately from the risk assessment. 

Finally, the reprimand was also issued as Casumo had not identified and risk assessed their delivery channels sufficiently, since their app was reportedly not risk assessed. 

Subsequently, the Danish Gambling Authority assessed “that Casumo has not had a risk assessment which sufficiently contributed to ensure that Casumo was not abused for purposes of money laundering or financing of terrorism. 

“The Danish Gambling Authority notes that the rules on risk assessment is a fundamental part of the Anti-Money Laundering Act. 

“As a rule, breaches of the rules and obligations lead to an order or a reprimand or in serious or repeated cases, they are reported to the police.”

Earlier in the month, Tipwin was reported to police by the Danish Gambling Authority for “breaching the rules on risk assessment, policies, business procedures, and supervision” of sections of the Anti-Money Laundering Act.

This was with regards to the provision of land-based gambling products, with the group also given orders regarding retail and online services. The DGA gave the group a three month time frame to correct these matters. 

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