Danish regulator warns 888 over AML Act breach

Spillemyndigheden, the Gambling Authority, said 888 Denmark did not satisfy section 25 of this Act, that states operators should investigate transaction patterns and activities Which Do not have a legal Intent that was demonstrable or distinctly economical.  

The agent noted failures reporting suspicions that a transaction, finance or action was connected with money laundering to the State Prosecutor for Serious financial and International Crime.

In a singled-out incident, a customer deposited more than DKK 1m ($148,533) into his account in just three months prior to opening it.

During this period, many different track record checks were performed by 888 Denmark to the gamer, mainly through receptive sources readily available online.

After the participant retreated DKK 600,000 into his account he had been asked from the operator to offer proof assets or income.

Even with his failure 888 Denmark enabled the customer to keep on playing a month before his own account had been closed.

In this circumstance, the Gambling Authority discovers that 888 Denmark needs to have prevented the customer from taking part in with an earlier day and should have documented that the trades to the appropriate jurisdiction.

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