The Danish Gaming Commission has issued a warning to SkillOnNet, determining that the gaming provider fell short of its anti-money laundering protocols. The Commission identified five areas of concern, particularly criticizing SkillOnNet’s risk evaluation methods and insufficient documentation regarding internal controls. SkillOnNet has been instructed to rectify its operations, delivering a revised risk assessment and evidence of enhanced internal processes within the next half-year. This is not merely a documentation matter – the Danish Gaming Commission discovered that SkillOnNet neglected to sufficiently evaluate the money laundering hazards linked to its specific offerings and payment methods, a crucial lapse in the battle against financial misconduct.
The Danish Gaming Commission delivered a conclusive ruling against SkillOnNet for neglecting to furnish evidence regarding their internal control protocols. This lapse constitutes a direct infringement of the Anti-Money Laundering Legislation.
The Gaming Commission pinpointed numerous areas requiring attention. Firstly, SkillOnNet’s client integration system was defective and unproductive. The Commission’s inquiry uncovered a disparity between the recorded procedures and the actual practices. This represents a grave breach of the Anti-Money Laundering Legislation.
Furthermore, SkillOnNet’s confidential reporting mechanism was insufficient. Until June 2023, submissions could solely be submitted electronically, significantly jeopardizing anonymity and deterring potential informants. This is a blatant violation of the statute, which dictates a substantial degree of safeguarding for informants’ identities.