Prevention of money laundering and financing of terrorism receives great attention in Denmark. Gambling operators play an important role in combatting criminals' attempts to abuse their gambling services.
The Danish Gambling Authority manage the supervision of money laundering in the gambling area. The Danish Gambling Authority supervises that licence holders and gambling operators established in Denmark that provide gambling in other countries comply with the Anti-Money Laundering Act.
The licence holders of the following categories are supervised:
- Online betting
- Land-based betting
- Online casino
- Land-based casino
The Danish Gambling Authority must supervise gambling operators covered by the AML Act. The purpose of the supervision us to ensure that gambling operators comply with the legislation. The Danish Gambling Authority's supervision may cover all, some or a few parts of the gambling operator's obligations in relation to the AML Act. In case that the gambling operator does not comply with the AML Act, the Danish Gambling Authority can respond with an injunction, an action or a report to the police.
The Anti-Money Laundering Act applies to all types of gambling products, but the Minister for Taxation can exempt particular gambling products from the legislative requirements partly or entirely if the gambling product is assessed to constitute a low risk of being exploited. Please note that the gambling products that are exempted from the law are still covered by the duty to report to the Danish FIU.
The Danish Gambling Authority's obligation to conduct anti money laundering supervision covers certain games in Greenland, but not in the Faroe Islands.
The Danish Financial Supervisory Authority, the Danish Business Authority and the Danish Bar and Law Society manage the supervision of other persons and organisations included in the AML Act. The Danish Gambling Authority participates in various cooperation fora in Denmark attended by the Danish Financial Supervisory Authority, the Danish Business Authority, the Danish Bar and Law Society, the the National Unit for Special Crime (NSK) and the Danish Security and Intelligence Service, among others. Together, they coordinate the joint effort to combat money laundering and financing of terrorism.
If you want to know more about the gambling operators' obligation in relation to money laundering, you may find more information here.