Guidance on Preventive Measures against AML/CFT

Guidance on Preventive Measures against AML/CFT

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The Danish Gambling Authority has released a revised version of the guidance on preventive measures against money laundering of criminal proceeds and financing of terrorism (the Anti-Money Laundering guidance). This guidance is intended for gambling operators, employees, and relevant stakeholders, supplementing the Danish Financial Supervisory Authority’s guidelines on the Anti-Money Laundering Act. It focuses on combating crime by mitigating the gambling industry’s vulnerability to money laundering and terrorism financing, aiding police investigations, and stopping the integration of criminal proceeds into the legitimate economy. The approach is risk-based, demanding operators to tailor internal procedures according to their business models’ specific risks. A comprehensive understanding of risks, cultivated through training, professional advice, and learning experiences, is crucial for exercising sound judgment. Operators are obligated to report suspicious transactions to the Money Laundering Secretariat, encouraging proactive efforts to thwart illicit activities within the gambling sector.