Unibet Warned After Breaching AML Regulations

Denmark’s gambling watchdog issued a warning to Unibet. The brand owned by Kindred Group received the warning after breaching regulations about money laundering. Kindred Group also recently shut down its operations in the Netherlands.

Warnings Over 2016 and 2018 Suspicious Activities

The warning issued to Unibet revolves around a case about a customer who deposit huge sums of money. This was between December 2016 and December 2018. The customer deposited a total of DKK1.4 million. This suspicious activity saw the light of day after Unibet failed to declare the origins of the funds as not from criminal-related activities.

Spillemyndigheden concluded that Unibet violated several sections of the Money Laundering Act. This then led it to order Unibet and its parent company, Kindred Group, to alert the Money Laundering Secretariat of Denmark about these suspicious activities.

The State Prosecutor harbors the Money Laundering Secretariat. But the country’s gambling watchdog said Unibet failed to comply with the request. This was as of December 13 despite having another two weeks to comply. The result of this is a warning from the regulator. It also went ahead to inform the Secretariat of the issue.

Playing Over Budget, Proof of Funds Uncovers

Denmark's gambling regulator revealed that the funds deposited by the player between the specified period violated different laws. For starters, Unibet was already notified of the need to maintain a hawk’s eye on the player’s gambling habits. This was in 2015. But the player was inactive at that time.

Fast forward to December 2018 and Unibet requested the player to provide proof of the origin of their funds. The documentation provided revealed the player used funds way over the top of their income.

But Spillemyndigheden said the operator allowed this player to continue depositing funds despite the eye-opening documentation. The player deposited DKK1.8 million between 2019 and April 2020. Only then was the player restricted from playing.

888 in the Same Predicament in 2019

It appears this is nothing new for the gambling regulator, dealing with a renowned brand. Back in 2019, Spillemyndigheden fired a warning at 888 Denmark Limited. This was after investigations by the gambling watchdog revealed the operator failed to comply with regulations provided in sections 26 (1) and 25 (1).

In 888’s case, a player deposited over DKK1 million over three months. But it didn’t stop there. The player deposited a further DKK600,000 in the following days. This then prompted the operator to request the players to provide proof of funds.

The area of concern for the regulator was that the player failed to provide proof of funds yet the operator continued to receive bets from the player. Further compounding the matter is the operator’s failure to notify the State Prosecutor for Serious Economic and International Crime about the matter.

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Nerijus Grenda

Published: 02 Jan 2022

| Updated: 13 Mar 2023

Nerijus Grenda is a prolific contributor to the GoodLuckMate site. With a deep understanding of the online casino industry, gained from his own experience as an avid player, he offers valuable insights on what sets the best casinos apart from the rest. As a writer, Nerijus shares his expertise through expert analysis and thoughtful commentary on various topics related to online gambling, including casino reviews, game guides and industry trends.

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