Denmark’s regulator reports Tipwin to police for AML deficiencies
Operator found to have failings in business procedures and around performing risk assessments on customers
The Danish Gambling Authority (DGA) reported Tipwin to the police around shortcomings in its anti-money laundering procedures across retail and online.
The regulator also said that the bookmaker did not conduct customer risk assessments at its retail outlets until 16 May 2022.
In addition to its land-based failings, the DGA found that Tipwin did not have any procedures in place for its online offering in terms of alerting the Money Laundering Secretariat to any potential issues.
The regulator also stated that Tipwin did not make AML monitoring procedure training mandatory for its venue staff members.
Tipwin also could not provide the DGA with the transactions relating to the players who spent more than €2,000 (£1715.32) daily.
Furthermore, the DGA also said Tipwin did not disclose transactions made at its self-service terminals or transactions involving prize receipts and credit vouchers.
In a statement, the DGA stated: “Moreover, Tipwin did not have sufficient business procedures for and supervision of their provision of land-based gambling products in relation to anti-money laundering up until 25 May 2022.”
The DGA added: “Tipwin has exposed itself to a significant risk of being abused for purposes of money laundering. Therefore, the Danish Gambling Authority has turned the case over to the police for investigation.”
Despite handing its case to the police, the DGA has decided not to close Tipwin’s retail outlets, which were the focus of this investigation, but has given the operator three months to rectify the issues.