The Danish Gambling Authority (Spillemyndigheden) has spotlighted the recent updates to the Financial Action Task Force (FATF) grey list. This list identifies jurisdictions under increased monitoring due to higher risks of fraud and financial crime. Spillemyndigheden has urged gambling operators to review the list and consider it when assessing players.
Regulatory Reminder on Greylisted Regions’ Risks
The FATF grey list underscores regions with heightened fraud and financial crime risks. Consequently, Spillemyndigheden advises gambling operators to exercise increased caution with customers from these jurisdictions. Danish gambling companies are required to conduct risk assessments as per Annex 3 of the country’s AML Act, which highlights high-risk factors, including the countries listed on the FATF’s grey and black lists.
Spillemyndigheden further elaborated that enhanced due diligence (EDD) is mandatory when a company identifies a player posing a higher risk of money laundering or terrorist financing. While EDD is not required solely based on a country’s inclusion on the FATF grey list, it is mandatory for jurisdictions listed in the EU Regulation of High-Risk Third Countries.
Updated Grey List
Currently, the FATF grey list includes the following countries:
- Algeria
- Angola
- Bulgaria
- Burkina Faso
- Cameroon
- The Ivory Coast
- Croatia
- DR Congo
- Haiti
- Kenya
- Laos
- Lebanon
- Mali
- Monaco
- Mozambique
- Namibia
- Nepal
- Nigeria
- South Africa
- South Sudan
- Syria
- Tanzania
- Venezuela
- Vietnam
- Yemen
The Philippines has been removed from the list in the latest update, while Nepal has been added since Spillemyndigheden’s November notice. The FATF black list, highlighting countries lacking AML procedures or uninterested in implementing such processes, remains unchanged and includes the Democratic People’s Republic of Korea, Iran, and Myanmar.
Financial Intelligence Unit’s Q4 Report
Spillemyndigheden’s notice follows the latest quarterly report from its Financial Intelligence Unit, available on the regulator’s website. The report details the number of AML notifications received and discusses the involvement of a network of Russian-speaking criminals in Sweden in financial crimes, including money laundering. Additionally, it refers to CBS’s study on AML vulnerabilities.
Habanero Secures B2B License in Denmark
In other Denmark-related news, Habanero, the developer behind games like Totem Tower, Jump, and Hyper Hues, has secured a B2B license in the country. This license allows Habanero to supply its portfolio of innovative gaming titles to the local community of operators.
