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.
Why choose Bet365
- Ideal for football lovers
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Bet365 needs no special introduction. Even the most amateur players know the immensity of the colossal bookmaker, which is popular for the great innovations it has brought to the betting world. The 20 million active customers speak on behalf of 365, nonetheless there are some ups and downs noted from me. On the downside first, the platform is quite confusing for the beginners. The bookmaker often limits sharp bettors or winning accounts, while the customer service could offer a much better support. On the other hand, Bet365 offers everything a player needs and dreams of. I love the odds, even if they are not the best you can find on the internet. For sure they are worse than Pinnacle’s, but better than those of William Hill or Bwin. The complete suite of features (Bet Builder, Edit Bet, Partial/Auto Cashout, Bet Alerts, Quickbet, Live Streaming) gives an uplift to your betting experience, while the in-play section is one of the best globally. In a few words, an account with Bet365 is a must for every player, and that is non-negotiable.