Danish Regulator Reprimands Unibet Over AML Issues

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Unibet ‘Denmark’ Limited, which is responsible for Kindred’s Danish business, has been ordered by the Danish Gambling Authority (DGA) to update its risk assessment.

The regulator said it uncovered a “number of breaches” during an inspection concerning the company’s AML obligations.

The DGA reprimanded Unibet for violating its rules on business procedures, know your customer (KYC) measures and politically exposed persons etc., as well as its rules on obligation to investigate and obligation to report.

It said, until 25 January this year, Unibet did not have “sufficient written business procedures for ongoing monitoring of existing customer relations.”

The DGA added that Unibet also lacked sufficient business procedures for collecting and assessing documentation in relation to suspected money laundering, as well as mitigating existing risks through certain payment methods.

A further reprimand was given for Unibet’s insufficient business procedures “for managing politically exposed persons, their family members and close associates,” as well as for not employing adequate KYC measures for five out of 20 high-roller customers inspected during a spot check.

Unibet also, according to the DGA, allowed a young player to deposit more than DKK 1m ($152,708) without adequate knowledge of his funds’ source.

The regulator has given the company two months to update its risk assessment, though said its reprimands do not entail an obligation to act since the breaches no longer exist.

Kindred said in a statement: “As previously communicated, Unibet ‘Denmark’ Limited, which operates Kindred Group’s Danish business, has been reprimanded by the Danish gambling authority, regarding past failing related to AML.

“Since then, Unibet has, in collaboration with the regulator, updated its AML framework accordingly and will provide the regulator with an updated risk assessment.

“Kindred Group have the ambition to demonstrate the highest quality and standards in the industry and we are pleased to see that the regulator have now acknowledged that the breaches no longer exists.

“Kindred has corresponded with the regulator in the matter in an open, transparent and productive manner throughout the process.

“We will continue with the collaboration and do everything necessary to further strengthen our control procedures maintaining our ambitions on offering high consumer safety and AML security.”

Zoltan Tundik

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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