The Danish Gambling Authority has reminded licensed operators to consider recent updates to the high-risk jurisdiction lists published by the Financial Action Task Force. It noted that the FATF maintains two monitoring categories, including a grey list of jurisdictions under increased monitoring and a black list of countries requiring stronger counter-measures.
Countries currently listed on the grey list include Algeria, Angola, Bolivia, Kenya, Lebanon, Monaco and Venezuela among others. The black list continues to include Iran, Myanmar and North Korea.
Spillemyndigheden stated that licensed gambling operators should factor the lists into their internal risk assessments when evaluating customer profiles. The requirement forms part of the compliance obligations set out in Denmark’s Anti-Money Laundering Act.
AML Risk Assessments Must Consider FATF Lists
Operators must assess whether a player presents a higher risk of money laundering or terrorist financing activity. Where such risks are identified, companies are required to apply enhanced customer due diligence measures.
The Danish regulator noted that the FATF lists form part of the risk indicators outlined in the country’s AML framework. Operators must therefore incorporate the information when conducting broader customer risk assessments.
The AML Act also requires operators to consider a range of additional risk factors during the evaluation process.
FATF Listing Does Not Automatically Trigger Enhanced Checks
The Danish Gambling Authority clarified that a jurisdiction’s appearance on the FATF lists does not automatically require enhanced due diligence. Instead, operators must examine each case individually before applying stricter compliance procedures.
The reminder forms part of ongoing efforts to maintain alignment between Denmark’s gambling sector and international financial crime standards.
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