Danish authority scolds Unibet for anti-money-laundering concerns

Danish authority scolds Unibet for anti-money-laundering concerns

According to the DGA's order, Kindred's Danish business partner Unibet 'Denmark' Limited must revise its risk assessment.

A "number of breaches" were found during the investigation of the company's anti-money-laundering responsibilities, according to the regulator.

The Danish Gambling Authority has fined Unibet "Denmark" Limited, which runs Kindred Group's Danish operations, for past shortcomings connected to anti-money laundering (AML), as previously reported by Kindred when Gambling Insider contacted them for comment.

"Since then, Unibet has brought its AML framework up to date in conjunction with the Danish Gambling Authority. The DGA will receive an updated risk assessment from Unibet."

Unibet was scolded by the DGA for not following its regulations about obligations to investigate and report, as well as its regulations regarding business procedures, know your customer (KYC) measures, politically exposed persons, etc.

Unibet lacked "sufficient written business procedures for ongoing monitoring of existing customer relations" prior to January 25th, according to the filing.

In addition, the DGA found that Unibet did not have adequate business procedures in place to gather and evaluate evidence of possible money laundering or to reduce the risks associated with specific payment methods.

Unibet was further scolded for several reasons, including its inadequate business practices "for managing politically exposed persons, their family members and close associates" and the fact that five out of twenty high-roller customers examined during a spot check did not use necessary KYC measures.

Unibet allegedly let a minor player deposit over DKK 1 million ($152,708) without properly verifying the origin of the money, as reported by the DGA.

Since the breaches have been remedied, the regulator has stated that the company is not obligated to take any action beyond providing two months for the company to revise its risk assessment.

We are glad to see that the DGA have finally accepted that the breaches no longer exist. Kindred Group strives to display the highest quality and standards in the industry.

Kindred has maintained an approachable, forthright, and fruitful correspondence with the DGA over the subject throughout. Our commitment to providing top-notch consumer safety and anti-money-laundering security is unwavering, and we will keep working together to achieve this goal.