The Danish Gaming Authority (DGA) has openly censured Casumo for not adhering to anti-money laundering (AML) rules. This is not the first instance where the DGA has had to admonish a gaming provider – it appears to be a recurring pattern.
The DGA highlighted several problems with Casumo’s procedures. They discovered that Casumo’s hazard evaluation did not adequately pinpoint or gauge different categories of clients and their potential for risk. It also neglected to examine the hazards linked with each particular gaming service they provided. Furthermore, Casumo had not even attempted to assess the risks of their own mobile application until much later.
The DGA stressed that Casumo’s careless approach to risk evaluation could have made them vulnerable to money laundering and funding for terrorism. They emphasized that possessing a robust risk assessment is not merely a recommendation, but a core requirement of the AML legislation.
Although the DGA issued a formal rebuke, they did not impose any additional sanctions because Casumo had already opted to exit the Danish market and relinquish their license.
This episode with Casumo comes after a comparable reprimand given to Copenhagen Casino just the previous month, also for deficiencies in their risk assessment protocols. It seems the DGA is strengthening its control and sending a clear signal to other providers that AML conformity is not open for debate.
The gaming scene in Denmark is experiencing a resurgence! Brick and mortar establishments witnessed a significant rebound in the fifth month of the year, with profits soaring by a remarkable 196% despite the global health crisis. It seems individuals are eager to tempt fate face-to-face once more!
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