Guidance on preventive measures against money laundering and financing of terrorism

14, Aug 2019

Today, the Danish Gambling Authority has published a guidance on preventive measures against money laundering of proceeds and financing of terrorism (hereafter referred to as the guidance). 

The Danish Gambling Authority's guidance on preventive measures against money laundering of criminal proceeds and financing of terrorism

The guidance is aimed at gambling operators, their employees, and other relevant stakeholders. The guidance is a supplement to the Danish Financial Supervisory Authority’s guidance on the Act on Measures to Prevent Money Laundering and Financing of Terrorism (The Anti-Money Laundering Act). 

The rules on measures to prevent money laundering and financing of terrorism are risk-based. That is, the gambling operators must arrange in-house procedures based on their respective business models and on the risks of the company being used for purposes of money laundering or financing of terrorism. 

This guidance provides guidelines for and interpretations of how the rules should be met by gambling operators, their managers, and employees. In the areas where it is left to the gambling operator to carry out a risk assessment, the guidance includes instructions on how to be compliant. 

The guidance has been subject to a consultation with several external stakeholders before the publication.

The guidance will be updated regularly following amendments of the Anti-Money Laundering Act, publication of new national risk assessments, and in case of new or changed practice. Every updated version will be announced on the website, and the version number on the front page will be adjusted to illustrate that a new version has been published. 
 

The guidance is available here