The online gaming powerhouse bet365 received a stern warning from the Spillemyndigheden (Danish Gambling Authority) for failing to comply with the local Money Laundering Act. In particular, the operator allowed a "young player" to deposit DKK 190.000 (€25.500) in less than a year. The authority determined that bet365 (Hillside Ltd.) did not hold "sufficient knowledge of whether the player's funds originated from criminal matters."
On the same note, the DGA stated that the bookmaker should investigate the origin of the funds "in more detail" as the amount of money did not match the player's age. As a result, bet365's actions violated customer due diligence procedures and investigation and listing obligations under the terms of Denmark's Money Laundering Act.
The DGA explained: "The Gambling Authority notes that the rules on customer due diligence procedures, duty to investigate and duty to list are absolutely fundamental in the Money Laundering Act, and violation of the rules leads as a clear starting point to injunctions or reprimands or, in serious or repeated cases, to police reporting. The prosecution does not entail any duty of action for Hillside, as Hillside has subsequently introduced new business procedures for customer knowledge procedures and investigation."
Despite the violation, no further action will be taken by the authority, such as a fine or penalty.
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