{"id":139,"date":"2024-06-15T18:54:28","date_gmt":"2024-06-15T15:54:28","guid":{"rendered":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/15\/betfair-faces-regulatory-action-for-anti-money-laundering-violations\/"},"modified":"2024-06-17T12:46:18","modified_gmt":"2024-06-17T09:46:18","slug":"betfair-faces-regulatory-action-for-anti-money-laundering-violations","status":"publish","type":"post","link":"https:\/\/luckcasinonodepositbonus.icu\/2024\/06\/15\/betfair-faces-regulatory-action-for-anti-money-laundering-violations\/","title":{"rendered":"Betfair Faces Regulatory Action for Anti-Money Laundering Violations"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/dv4geNR69Ag\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A well-known wagering platform, Betfair, faced scrutiny from the Danish Gaming Commission for failing to adhere to anti-money laundering regulations. The Commission levied three directives against Betfair, essentially reprimanding them for neglecting to implement adequate measures to combat money laundering.<\/p>\n<p>Betfair&#8217;s transgressions included an inadequate evaluation of the risks associated with their platform, insufficiently rigorous customer due diligence procedures, and inadequate internal controls to thwart money laundering.  For instance, they lacked a system to ascertain the involvement of their own personnel in illicit activities, a significant lapse in the battle against financial crime. <\/p>\n<p>The UK Gambling Commission issued Betfair a third regulatory action due to insufficient evidence of robust safeguards. This pertains to areas like comprehensive customer due diligence, proactive identification of potential harm, meticulous record-keeping, and ensuring staff adherence to regulations.  They have a timeframe of three months to address the initial two orders and twelve months to demonstrate comprehensive compliance with the third. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A well-known wagering platform, Betfair, faced scrutiny from the Danish Gaming Commission for failing to adhere to anti-money laundering regulations. The Commission levied three directives against Betfair, essentially reprimanding them for neglecting to implement adequate measures to combat money laundering. Betfair&#8217;s transgressions included an inadequate evaluation of the risks associated with their platform, insufficiently rigorous [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Betfair Denmark Faces Heat: Anti-Money Laundering Failings<\/title>\n<meta name=\"description\" content=\"Danish Gaming Commission slaps Betfair with directives for inadequate anti-money laundering measures. 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