Cashpoint Gets Regulatory Warning From Spillemyndigheden

This story was published more than 1 year ago.

Payment provider Cashpoint Limited has been issued a formal warning by Danish gaming regulator Spillemyndigheden due to concerns related to potential money laundering.

The warning came as Cashpoint didn't identify source of funds for players that used the company as a way to fund their gambling accounts.Spillemyndigheden said that Cashpoint will have to amend its risk assessments in order to maintain their authorisation to finance gambling transactions.

Spillemyndigheden has been busy in recent months, issuing warnings and fines for many operators in the country, recently having issued a formal warning to MrGreen for anti-money laundering failings.

In a statement, Spillemyndigheden said, "The rules on risk assessment and business procedures are fundamental in the Money Laundering Act. Violation of the rules leads, as a clear starting point, to an order or reprimand, or in serious or repeated cases, to a police report."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.