Danish Gambling Authority Highlights FATF’s Updated High-Risk Jurisdictions List
The Danish Gambling Authority (Spillemyndigheden) has drawn attention to the Financial Action Task Force’s (FATF) revised list of high-risk jurisdictions. The update emphasizes the importance of enhanced customer due diligence (EDD) for gambling operators.
FATF and Its Role in Combating Financial Crime
The FATF, also known as Groupe d’action financière (GAFI), was established in 1989 to address money laundering. Its mandate was expanded in 2001 to include counter-terrorism financing.
The organization regularly evaluates countries’ compliance with anti-money laundering (AML) and counter-financing of terrorism (CFT) efforts, publishing lists to guide international cooperation and monitoring.
Recent Additions to the FATF Lists
The latest update to the FATF greylist includes Lebanon, alongside countries already under increased monitoring. The greylist now comprises the following jurisdictions:
- Greylist: Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Ivory Coast, Croatia, DR Congo, Haiti, Kenya, Lebanon, Mali, Monaco, Mozambique, Namibia, Nigeria, the Philippines, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam, and Yemen.
- Blacklist: The Democratic People’s Republic of Korea, Iran, and Myanmar remain on the blacklist as jurisdictions resistant to AML/CFT efforts.
Countries on the blacklist are considered unwilling to comply with international standards, while those on the greylist are under increased scrutiny as they work to address identified deficiencies.
Implications for Danish Gambling Operators
Spillemyndigheden has reminded operators of their obligation to consider these high-risk jurisdictions when conducting enhanced customer due diligence checks.
In its latest report, Spillemyndigheden also noted a nearly 3% decline in average gambling spend in Denmark.
