Inpay A/S has agreed to halt new relationships with on-line gaming firms after Denmark’s monetary regulator discovered shortcomings within the fee supplier’s anti-money laundering controls.
The restriction follows a March inspection by Finanstilsynet, which examined how Inpay handles AML necessities for purchasers in its iGaming enterprise. The regulator described the findings as “serious violations of the Money Laundering Act” and would require proof of corrective motion earlier than Inpay can develop its gaming buyer base once more.
The case facilities on the way in which Inpay assessed and documented relationships with iGaming companies, significantly clients thought-about extra uncovered to cash laundering and terrorist financing dangers.
Cross-Border Customers Draw Regulatory Attention
Inpay operates underneath Denmark’s Payments Act as an e-money establishment. The firm gives worldwide cross-border fee providers as a substitute for conventional SWIFT transfers and serves clients together with company companies, monetary establishments, crypto enterprises and on-line gaming firms.
Finanstilsynet stated Inpay couldn’t present sufficient proof that it had accomplished the required stage of buyer due diligence for its iGaming clients.
The inspection recognized shortcomings in figuring out the aim and supposed nature of sure enterprise relationships. Inpay additionally failed to hold out satisfactory assessments of enterprise clients categorized as presenting greater cash laundering and terrorist financing dangers.
The regulator stated the scale and traits of the affected buyer base elevated the importance of the findings.
“The Danish FSA assesses that the violations are serious, and that the scope and type of customer, including the complexity of ownership structures and activities across many countries, are aggravating factors in terms of how significant the violation is,” the authority said.
Finanstilsynet additional stated the deficiencies concerned “the majority” of Inpay’s iGaming portfolio. It pointed to the actual cash laundering publicity related to on-line gaming clients, including that almost all of these companies had been primarily based outdoors Denmark and infrequently outdoors the EU.
“These customers operate within online gaming, which is an industry with an increased risk of money laundering, and the majority are located outside Denmark and often outside the EU.”
New iGaming Business Remains Suspended
Rather than persevering with to ascertain new relationships whereas addressing the findings, Inpay has agreed to voluntarily cease taking up new on-line gaming clients. The firm should produce documentation exhibiting that it has improved its AML procedures and current that materials to Finanstilsynet.
The regulatory measure applies particularly to new agreements involving iGaming firms. Inpay’s standing as an e-money establishment and its wider enterprise actions stay outdoors the scope of the restriction described within the provided materials.
The regulator’s considerations relate to buyer evaluation relatively than the mechanics of Inpay’s worldwide fee service. The March inspection centered on whether or not the corporate might reveal that it understood the character of its relationships and correctly assessed clients carrying greater dangers.
For Inpay, the fast situation is subsequently the proof required to fulfill Finanstilsynet. Until the regulator is happy that the recognized weaknesses have been addressed, the corporate will stay unable to ascertain new enterprise relationships throughout the on-line gaming sector.
Source:
“Danish fintech flagged for iGaming AML failures”, sbcnews.co.uk, August 18, 2026
