According to the regulator’s announcement, the company was found to have breached the act with respect to:
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Danish Gambling Authority Warns 888-Owned Mr Green Over AML Breaches
- procedures for internal controls
- failing to ensure that controls are carried out
- rules on notification to the Money Laundering Secretariat
All three orders and the reprimand were issued on April 10th 2024.
The announcement gave details on the warnings stating that Mr Green’s risk assessment controls were insufficient. All risk assessments must include a separate risk assessment of payment solutions.
Danish Gambling Authority Warns 888-Owned Mr Green Over AML BreachesA reprimand was also issued based on the company’s failure to notify the Money Laundering Secretariat when two transactions were suspected of money laundering or terrorist financing.
Mr Green must submit a revised business plan and risk assessment procedure by June 10th, 2024. The company must also submit documentation by October 10th 2024 to prove that the new controls have been used correctly.
No financial penalty has been issued in connection with the orders or reprimand.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.