Kansspelautoriteit issues €3m fine to BetEnt
The Kansspelautoriteit has recently issued a fine of 3 million euros to BetEnt.
The regulator’s latest penalty was issued to the operator for several violations of the country’s AML and CTF regulations. This latest enforcement action follows a couple of months after the Kansspelautoriteit issued a public warning to BetEnt for a similar set of shortcomings back in mid-September, which was issued publicly because of the severity of the operator’s failures.
The Kansspelautoriteit’s Chair, Rene Jansen, stated in the regulator’s latest announcement that this fine originated in May of last year when licensed gambling operators in the country were issued a warning to ensure their compliance with the Dutch AML and CTF regulations, the WWFT Act. This was done because studies at the time showcased that Dutch operators were underperforming in this regard.
The regulator added that it examined the operator’s AML efforts and provided the firm with guidance on how to carry out appropriate identity verifications to ensure compliance back in September of 2022. Following this, the Kansspelautoriteit carried out further investigations to gauge BetEnt’s WWFT compliance, which found that the company’s customer assessments remained inadequate in the period between December of last year and May this year.