Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy

Richard Marley
July 21, 2022
3 minutes read
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Denmark promises to crackdown on money laundering activities across the nation with a new AML strategy

The Danish gaming regulator, Spillemyndigheden has announced its involvement in the new national Anti Money Laundering strategy crafted by the Ministry of Justice to prevent illicit activities across the region. The gaming regulator will act with authority in the government’s legal document alongside other regulatory firms such as Danish Financial Supervisory Authority, the Bar Council and the Danish Business Authority.

According to the Money Laundering Secretariat and Police Intelligence Services’ assessment in the document, entities like currency exchange and money transfer businesses, high-value goods trading, neo-banks, cryptocurrency, the gambling industry, and specific segments of the nonprofit sector pose the greatest risk for money laundering and terrorist financing.

The new strategy’s five pillars also include some new wording, such as more public-private cooperation, a focus on international collaboration, and increasing use of digital and technical solutions, which may have regulatory repercussions for the gaming industry moving ahead.

Along with the disclosure of the tactic, Justice Minister Mattias Tesfaye made the following statement: “Criminal gangs and worldwide tax evaders utilise money laundering to conceal their illegal income. That needs to end. He mentioned: “Economic crime goes across national borders, and the fight against economic crime goes across authorities. Therefore, the government has already taken a number of initiatives to help stop the fraud.”

Tesfaye mentioned that the Danish police have also set up a new AML unit for the purpose of new regulations. “Among other things, we have established a new unit in the police, which will deal with this type of special crime, and which will be at the table of new operational cooperation with private actors in the fight against money laundering. But we can and must do more. Therefore, the new strategy is a real and important initiative that we can use in a common and more focused fight against organized crime and not least the people behind it.”

The strategy is planned to be run until 2025 and will focus on rebuilding the previous AML initiatives taken in recent times. The ministry of trade and Industry Simon Kollerup stated that the issue of Money laundering is affecting the community and it is not acceptable. With this strategy, we take action against the criminals who harm the system for personal gains.

“We strengthen the efforts at all levels so that the criminals are hit where it hurts the most. We do this through strengthened control and cooperation both nationally and internationally. The strategy is a visible proof that we are prepared to take all necessary steps towards strengthening the fight against economic crime.”

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Danish Gaming Regulator to Support the Ministry of Justice’s National AML Strategy

How Much Have Australians Lost to Scams?

How do Online Recruiting Scams Work?

Spotting the Signs of Recruitment Fraud

High Profile Criminal Cases of Recruitment Fraud

1. Europol Arrested a Gang Involved in €20 Million Employment Fraud

2. Hampton Gang Member Convicted for Pandemic Employment Fraud

Talent Acquisition Fraud and the Role of Law Enforcement Authorities

1. FBI Issued Instructions to Avoid Employment Scam

2. UK Government – Raising Awareness of Employment Scams

How Shufti Pro can Help

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