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Due diligence and AML failings place bet365 in the regulatory spotlight in Denmark

Bet365 has been penalised by the Danish Gambling Authority for breaches of the country's Money Laundering Act.

The DGA said that the igaming operator had let a "young player" to deposit €25,500 (DKK 190,000) to his account in less than a year.

Hillside (New Media) Ltd, also known as bet365, lacked "adequate information of whether the player's money were from illegal issues."

Due to the player's age in proportion to the amount placed, the Authority ruled that bet365 had the chance to investigate the source of the player's funds in "further depth."

This might have been accomplished by acquiring further information on the player's financial circumstances; but, as no investigations had been completed, there were no player notes.

Hillside/bet365 violated customer due diligence processes as well as investigation and listing requirements under the rules of the Money Laundering Act of Denmark.

Despite recognising the infringement of licence requirements, the Authority has decided not to take any action against bet365, such as a financial penalty.

The DGA explained: “The Gambling Authority notes that the rules on customer due diligence procedures, duty to investigate and duty to list are absolutely fundamental in the Money Laundering Act, and violation of the rules leads as a clear starting point to injunctions or reprimands or, in serious or repeated cases, to police reporting.

“The prosecution does not entail any duty of action for Hillside, as Hillside has subsequently introduced new business procedures for customer knowledge procedures and investigation.”

The DGA reprimanded bet365 immediately after disclosing that compliance investigations into gambling arcades and pubs had resulted in the launch of over 250 criminal prosecutions between 2019 and 2021.

In addition, the regulator informed Danish gambling industry stakeholders earlier this year that it had closed 55 websites for illegal/unlicensed gaming in 2021, the greatest number for a single year.


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