The Danish Financial Intelligence Unit (FIU) has updated the list of indicators with respect to money laundering and financial terrorism. Various indicators are included in the list. Some indicators indicate either money laundering or financing terrorism. There are certain indicators that fall in both the above-mentioned categories. The purpose behind the updating of the list is to help persons or organizations who have an obligation to report in order to better identify and prevent issues that arise under the Anti Money Laundering Act. The entire list of indicators is displayed on the website of the Danish Prosecution Service. It has been further clarified that the indicators are meant to give inspiration and as such are not exhaustive.

More on the indicators

Apart from the indicators being updated, the aforementioned indicators have been classified into specific categories such as persons or enterprises who have a duty to report under the Anti Money Laundering Act. This includes the gambling industry along with other industries that have a duty to report to the authority. According to the new regulations, persons or enterprises have a duty to file a report in case they come across transactions that are suspicious as regards money laundering or financing terrorism.

Timing of the update

The Danish Gambling Authority had issued a warning several days ago. It had issued a statement and had called attention to the fact that prize money in a single game cannot exceed DKK 600 ($95). This rule in essence seemed to be an executive order as regards gaming machines in restaurants and gambling arcades. According to the Gambling Authority, that prize money in a single game in excess of DKK 600 ($95) is a clear violation of Section 36(1)(1) of the Danish Gambling Act. In case the prize money exceeds DKK 600 ($95) in a single game, the advertisement must mention that the prize money is only possible through the playing multiple games.