The Danish Gaming Authority (DGA) has issued a caution to Casumo for breaching Danish Anti-Money Laundering (AML) regulations. This is not the first instance of Casumo encountering trouble, and it adds to a growing number of providers under examination in Denmark.
The DGA determined that Casumo’s hazard evaluation was insufficient. In particular, they neglected to adequately recognize and evaluate the categories of clients they were drawing and the hazards linked with their gaming offerings. Furthermore, they had not taken the time to assess the risks connected with their own application! This absence of proper diligence caused the DGA to conclude that Casumo’s platform was susceptible to money laundering and funding terrorism.
The DGA highlighted the gravity of these infractions, stating that violations of AML rules are fundamental shortcomings in a company’s operations. They even suggested potential legal repercussions for Casumo, mentioning that such breaches can result in police inquiries, particularly in situations of repeated offenses.
Nevertheless, it appears that Casumo avoided a major problem this time. As they have since revised their risk assessment and, more significantly, have already withdrawn from the Danish market, no further measures will be pursued. It seems they are minimizing their losses and proceeding onward.
This episode, coupled with the recent caution given to Copenhagen Casino, illustrates the DGA’s dedication to taking strict action against AML violations. It is a clear message to all gaming providers in Denmark: Rectify your practices or confront the repercussions.
Observing the resurgence of Danish gambling establishments post-pandemic is fantastic. The month of May proved exceptionally lucrative, witnessing nearly triple the revenue compared to pre-pandemic figures!