The Danish Gambling Authority, known as Spillemyndigheden, has released a refreshed version of its anti-money laundering (AML) guidance. This update, formulated after extensive consultations with external stakeholders, aims to support gambling operators, their employees, and other relevant parties. It complements the Danish Financial Supervisory Authority’s Guidance on Preventive Measures against Money Laundering and Financing of Terrorism.
New Guidance Incorporates Extensive Revisions
The revised AML guidance includes several key changes, particularly in the areas of risk assessment, policies, procedures, controls, and customer due diligence. These changes reflect both linguistic refinements and substantive updates. To help users navigate the revisions, a version history is now part of the guidance document, detailing specific amendments made.
Additionally, Spillemyndigheden has introduced a new document specifically focused on AML inspections. This document consolidates information that was previously scattered within the AML guidance, offering a comprehensive overview of the inspection process, potential outcomes, and confidentiality issues.
Ongoing Updates and Reporting Requirements
Spillemyndigheden is committed to keeping its anti-money laundering guidance current, ensuring alignment with updates to the Anti-Money Laundering Act, national risk assessments, and best practices in the field.
In other related developments, the authority updated its reporting requirements at the end of last month. These new requirements are set to take effect in 2025, although an exact implementation date has yet to be finalized.
Earlier this year, Spillemyndigheden also issued several orders and reprimands to the gambling operator SkillOnNet for breaches of AML regulations. The company received three orders for AML violations and two additional reprimands related to whistleblowing and business procedures, following an inspection of its compliance materials.
Source: “Spillemyndigheden updates anti-money laundering guidance”. Gambling Insider. June 3, 2024.