Unibet Targeted by Denmark’s Gaming Regulator Over Violations

Danish gaming regulators proceed to drive place their commitment to ensuring compliance with laws and policies. Shortly after calling out unity online operator for not followers the rules, Unibet has go the a la mode(p) target.

Unibet, 1 of the Kindred Group’s many brands, was reportedly remiss in adhering to anti-money-laundering (AML) regulations inward Denmark.

The iGaming and sports betting manipulator seemingly knew that a special customer may have got been a high-risk individual. However, it didn’t have the necessary steps to verify his status.

The unnamed single(a) deposited around DKK 1.4 jillion (US$212,520) into his account from Dec 2016 to 2018. For some, that wouldn’t stand for a problem. For this individual, it seems to be to a greater extent than he could afford.

Spending Outpaced Earnings

Unibet apparently knew the wager caused an emerge because, inward 2015, companion officials flagged his account. At that time, the soul wasn’t dynamic with Unibet.

The manipulator left wing a mention inward his accounting that he should live monitored if he were to pop rearward up. He did, but Unibet didn’t get hold of any action, according to the Danish Gambling Authority.

It wasn’t until Dec of 2018 that Unibet eventually requested that the user demonstrate he could afford to drop big. When the “proof” was provided, it showed that he was disbursal more than he made.

Still, Unibet, which has been praised elsewhere for its responsible gaming initiatives, didn’t intervene. It proceeded to tolerate him to sedimentation another DKK1.8 1000000 (US$273,250) through Apr 2020, before the manipulator closed his account.

Not Enough Due Diligence

As a result, Unibet has been accused of violating regulations on due industry and AML protocols. In addition to not taking sue sooner, it ne'er informed the Money Laundering Secretariat (MLS) of the issues, as is required.

Since Unibet has not yet notified the Money Laundering Secretariat, the breach ease exists, and consequently, Unibet has received an ordering to right the state of affairs past making a report,” states the Danish Gambling Authority.

Unibet now has to fulfill its due diligence and AML obligations and state the proper reports to the MLS. It has 2 weeks to twist inwards the information if it wants to avoid additional headaches.

Unibet Not the First or the Last

Most countries are cracking knock down harder on gaming entities that don’t conform to the rules. Kingdom of Denmark is no exception.

Regulators late called come out LeoVegas for not paying attention to due industriousness and AML rules. However, dissimilar other countries, Kingdom of Denmark isn’t as trigger-happy when it comes to levying major fines. Often, operators are issued a warning or allowed to get hold of disciplinal measures on a first off offense.

Denmark’s iGaming securities industry has been in a flake of a slouch lately. It did intimately this past September before October saw a 25.6% driblet inwards revenue gaming revenue. iGaming and sports betting only if produced DKK525 trillion (US$78.8 million), 40 trillion less than the previous month. It was also 181 million (US$27.46 million) to a lesser extent than a year earlier.