Danish Gaming Authority Censures Casumo for AML Violations

The Danish Gaming Authority (DGA) issued a public censure to Casumo, an internet gaming provider, for not complying with the nation’s anti-money laundering (AML) regulations.

The DGA determined that Casumo’s hazard evaluation did not sufficiently consider potential money laundering dangers connected with its clientele and specific offerings. They also noted that Casumo had not evaluated the hazards associated with its mobile application, suggesting a lack of thorough risk comprehension across its platforms.

The DGA stressed the gravity of these lapses, stating that a strong risk assessment is essential for deterring money laundering and terrorist financing operations. They cautioned that such infractions could result in orders for remedial action, official warnings, or even police intervention in serious or recurring instances.

Casumo has subsequently revised its risk assessment; however, this reprimand does not necessitate additional measures because the firm voluntarily surrendered its Danish license in April and terminated activities in the country.

This occurrence follows a comparable rebuke issued to Copenhagen Casino by the DGA last month, emphasizing the regulator’s emphasis on AML adherence within the Danish gaming industry.

The Danish gaming sector is witnessing a significant resurgence post-pandemic. Revenue skyrocketed in May, illustrating a revitalized passion for live gaming entertainment.