Date: 04.06.2024

by Adam Dworak

Danish Gambling Authority Releases Updated AML Guidance

The Danish Gambling Authority (Spillemyndigheden) has announced the publication of a revised version of its Guidance on the Prevention of Money Laundering and Financing of Terrorism.

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Key Updates in the Guidance

The Spillemyndigheden has made several linguistic adjustments throughout the AML guide, along with changes to critical sections covering risk assessment, policies, procedures, controls, and customer due diligence. The regulator emphasized that the update includes more examples to clarify the rules, making them easier for operators and stakeholders to understand and implement.

The revised document aims to provide detailed measures that operators and other relevant gambling industry stakeholders should adopt to prevent money laundering and the financing of terrorism.

Consultation Process and Stakeholder Involvement

Before finalizing the updated guidance, the Spillemyndigheden consulted with various external stakeholders. The regulator expressed gratitude to all participants in this consultation process, acknowledging their contributions in shaping the final document. This collaborative approach ensures that the guidance is comprehensive and considers the perspectives of different industry players.

The Spillemyndigheden has committed to updating the AML Guidance regularly to align with changes to Denmark’s AML Act. Any updates will be announced on the regulator’s website, ensuring that operators and stakeholders are kept informed of the latest requirements and best practices.

New Guidance on AML Inspections

In addition to the updated AML Guidance, the Spillemyndigheden has also published new guidance on AML Inspections. While the content of this guidance is not new and has previously been included in the AML Guidance, its publication as a separate document underscores the regulator’s intent to delineate its inspection responsibilities from the obligations that gambling operators must fulfill under the AML Act.

The new Guidance on AML Inspections provides detailed information about the regulator’s inspection processes, including confidentiality and response options available to interested parties. This separation is intended to clarify the roles and responsibilities of the Spillemyndigheden and the operators.

Increased Gambling Spend in Denmark

In other news, the Danish regulator recently released new industry data, highlighting a significant increase in gambling spend. In February, the total gambling expenditure on iGaming, gaming machines, land-based casinos, and betting reached $83.8 million, representing a noteworthy increase of 18.3% year-on-year. This surge indicates a growing interest and participation in gambling activities within Denmark.