Danish regulator reports Tipwin to police

Tipwin has been reported to the Danish police for breaching several sections of the Nordic country’s Anti-Money Laundering Act

Tipwin has been reported to the Danish police force for breaching several sections of the Nordic country’s Anti-Money Laundering Act.

The Danish Gaming Authority (DGA) has notified the police of violations related to to Tipwin’s local land-based offer.

According to the DGA, Tipwin did not prepare a risk of exposure assessment regarding its cut-rate sale of land-based betting products until 16 May this year.

By flunk to prepare an assessment, the regulator said, Tipwin was unable to in good order gage the extent to which it was at danger “of beingness maltreated for purposes of money laundering or funding of terrorism.”

Furthermore, Tipwin lacked equal business procedures and supervising concerning the supplying of its land-based gaming products.

“Preparation of a risk assessment of the business’ business sector example is a first harmonic way to mitigate the risk of exposure of money laundering of malefactor proceeds,” said the DGA.

It added: “By neglecting to groom a put on the line assessment, policies and sufficient stage business procedures for their provision of land-based play products, Tipwin has open itself to a important risk of being abused for purposes of money laundering.”

Consequently, the case has been turned over to the police force for investigation. Tipwin has also received an dictate from the DGA regarding its supply of land-based gambling. Besides the aforementioned issues, this also concerns staff training.

A further tell has also been issued regarding Tipwin’s online casino and betting offer. The latter concerns notifications to the Money Laundering Secretariat.

The DGA has given Tipwin ternion months to “correct the matters concerning peril assessment, business organization procedures and the obligation to develop staff.”

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