The Danish Gambling Authority says insufficient business procedures on KYC measures for land-based betting have led to Cashpoint being given a reprimand over the Anti-Money Laundering Act.
Spillemyndigheden says that up until December 21 last year, Cashpoint Limited made no copy of ID which customers must show to ensure winnings of DKK14,870 are paid out.
The regulator adds that Cashpoint is not obliged to act on the reprimand as the breach has expired. It also says that Cashpoint has since updated its business procedures on land-based KYC measures.
A statement on the regulator’s website reads: “The Danish Gambling Authority notes that the rules on business procedures on KYC measures are fundamental parts of the Anti-Money Laundering Act.
“As a rule, breaches of the rules lead to an order or a reprimand or in serious or repeated cases, they are reported to the police.”