Denmark’s Regulator Seeks Industry Input on Anti-Money Laundering Measures

Danish Gambling Authority Calls for Collaborative Effort Against Money Laundering

The Danish Gambling Authority is actively seeking input from the gambling industry to enhance the effectiveness of GoAML, a platform designed to combat money laundering and terrorist financing. This initiative marks a pivotal step towards reinforcing regulatory compliance and ensuring the integrity of Denmark’s gambling sector.

Enhancing GoAML with Industry Insights

The Money Laundering Secretariat, in collaboration with the Spillemyndigheden – the Danish Gambling Authority, is accepting proposals to refine and expand its indicators on GoAML. This request underscores the Authority’s commitment to leveraging industry expertise in bolstering anti-money laundering measures.

Optimizing Reporting and Identification Mechanisms

Currently, GoAML features a “money laundering through gambling” indicator, aiding in the notification process for potential illegal activities. The Danish Gambling Authority recognizes the industry’s need for more relevant indicators and has initiated dialogue with the Money Laundering Secretariat to explore expansion possibilities.

Inviting Proposals for Effective Monitoring

In response to the industry’s desire for more tailored indicators, the Danish Gambling Authority is encouraging stakeholders to share their insights and suggestions. This collaborative approach aims to refine GoAML’s functionality, making it more attuned to the specific risks within the gambling sector.

Participation Open to All Stakeholders

Contributions are welcome from all parties interested in shaping these anti-money laundering measures. Submissions should be sent to the Danish Gambling Authority at hvidvask@spillemyndigheden.dk by February 5, 2024, with “Input for indicators” indicated in the subject line.

Assessment and Implementation of Proposals

The Danish Gambling Authority will compile and forward all proposals to the Money Laundering Secretariat. The Secretariat will then evaluate these suggestions to determine their feasibility for implementation. This collaborative process reflects a shared commitment to ensuring the gambling industry operates within a secure and compliant framework.

A Step Forward in Regulatory Compliance

This initiative by the Danish Gambling Authority signifies a proactive approach to addressing money laundering and terrorist financing in the gambling industry. By inviting industry input, the Authority aims to create a more robust and effective system for identifying and reporting suspicious activities, ultimately safeguarding the integrity of Denmark’s gambling market.