Betfair International censured by Danish Gambling Authority for AML violations
Denmark's Gambling Authority, Spillemyndigheden, has issued three orders and a reprimand to Betfair International for inadequate risk assessment and insufficient customer due diligence
Betfair International, a subsidiary of Flutter Entertainment, has been issued three orders and a reprimand by Spillemyndigheden, the Danish Gambling Authority, for violations of Denmark's Anti-Money Laundering (AML) Act.
The gambling operator was found to have inadequate risk assessment procedures, insufficient customer due diligence practices, and ineffective internal controls.
As a result, Betfair must now submit improved risk assessment and business procedures, and document future control processes.
The Danish AML rules stipulate that Betfair must address these issues within three months for two of the orders, and within twelve months for the remaining one.