money laundering, terrorism funding, gambling, igaming, denmark

Denmark to crackdown on money laundering nationwide

Danish gaming regulator, Spillemyndigheden, has announced a nationwide crackdown on money laundering. The Danes will be partnering with the Ministry of Justice and its new nationwide strategy for tackling the problem, having been named in the government’s document on the proposal alongside the likes of the Danish Financial Supervisory Authority, the Bar Council, and the Danish Business Authority.

The document outlines plans to tackle the highest risks for money laundering and terrorist financing with the use of Police Intelligence Services. There are identified as areas like currency exchange companies, money transfer companies, neo-banks, cryptocurrency, high-value goods trading, and of course, the gambling sector.

Justice Minister Mattias Tesfaye made a statement along with the reveal of the strategy: “Criminal gangs and international tax evaders use money laundering to disguise their illegal profits. That must be stopped.

“Economic crime goes across national borders, and the fight against economic crime goes across authorities. Therefore, the government has already taken a number of initiatives to help stop the fraud.”

Commenting on the creation of a new Danish anti-money laundering unit, Tesfaye continued, “Among other things, we have established a new unit in the police, which will deal with this type of special crime, and which will be at the table of a new operational cooperation with private actors in the fight against money laundering.”

“But we can and must do more. Therefore, the new strategy is a real and important initiative that we can use in a common and more focused fight against organized crime and not least the people behind it.”

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