Danish regulator reprimands Casumo over money laundering violation

The regulator said that until 11 March this year, Casumo’s risk assessment did not adequately contain identification and risk assessment of customer types.

Spillemyndigheden also said the risk assessment did not include separate identification and risk assessment of offered products, as Casumo’s range of games did not appear separately.

In addition, the regulator said that Casumo failed to sufficiently identify and risk-assess its delivery channels, as no risk assessment had been made of its mobile app.

As such, Spillemyndigheden ruled Casumo did not have a risk assessment that sufficiently helped ensure the operator was not misused for money laundering or terrorist financing.

However, the regulator said that as Casumo subsequently updated its risk assessment, no further action was required.

“The Gambling Authority notes that the rules on risk assessment are absolutely fundamental in the Money Laundering Act, and violation of the rules as the clear starting point leads to an injunction or reprimand,” the regulator said. 

Spillemyndigheden also noted that Casumo no longer offers online gambling in Denmark after the operator gave up its licence in April this year.