SkillOnNet, the international developer and provider of gaming software and platforms for online casinos, has been found in breach of Danish Anti-Money Laundering legislation by the local Gambling Authority.
The Danish Gambling Authority has issued a public statement in which it explained that it had given SkillOnNet three orders for anti-money laundering breaches and a further two reprimands for breaches of rules regarding whistleblowing and business procedures, also related to anti-money laundering policies.
The five breaches were found following an inspection conducted by the Danish Gambling Authority into the materials provided by SkillOnNet regarding its compliance with the country’s Anti-Money Laundering Act.
Following the orders issued by the Danish Gambling Authority, SkillOnNet will have to submit a revised risk assessment within two months, along with other materials required by the regulator. Moreover, the company will have to submit proof of internal implementation within six months.
The Three Orders in Detail
The first of the three orders issued by the Danish Gambling Authority was all about inefficient risk assessment, claiming that the company did not implement separate risk assessment regarding the individual identified risks associated with its business model, especially regarding products and payment solutions. This failing constitutes a break of Section 7(1) of the Anti-Money Laundering Act.
The second order regarded inadequate business processes as the Danish Gambling Authority claimed that SkillOnNet was not keeping written records of procedures to ensure that the findings of internal controls were actually being implemented. The regulator deemed this a breach of Section 8(1) of the Anti-Money Laundering Act.
The third and final order was issued because of a lack of documentation regarding the company’s internal controls. The Danish regulator also regarded this as a breach of Section 8(1) of the Anti-Money Laundering Act.
The first of the two reprimands was due to inadequate business practices by SkillOnNet, as the Danish Gambling Authority found discrepancies between the company’s business procedure and practice. This was deemed to have breached multiple sections of the Anti-Money Laundering Act.
The second reprimand was issued because of the company’s less than adequate whistleblower scheme. The Danish Gambling Authority explained that until June 2023 this scheme was only accessible through email, a procedure that can be perceived as not ensuring anonymity for the whistleblowers. This failing was deemed a breach of Section 35(1) of the Anti-Money Laundering Act.
SkillOnNet has not yet responded to the accusations. The company was founded in 2005 and it operates in several jurisdictions around the world, offering over 3,000 different slots and table games to white label and full turnkey online casino partners. The company also offers gaming software, casino management back-office, risk management tools, gaming license coverage and financial services to online casino operators.
Source: “Three orders and two reprimands to Skill on Net Ltd for breach of the Anti-Money Laundering Act“. Danish Gambling Authority. April 5, 2024.
