The Danish Gambling Authority, Spillemyndigheden, calls for attention to the latest list of high-risk jurisdictions selected by the Financial Action Task Force (FATF).
The Financial Action Task Force, also known as GAFI, was established in 1989 as an intergovernmental working group to combat money laundering. In 2001, its mandate was expanded to include combating terrorist financing.
As a result, the Financial Action Task Force regularly updates the list of countries that gambling operators must pay attention to when conducting enhanced customer due diligence (EDD) checks.
Recently, Lebanon was added to the FATF's grey list.
The updated list includes the following:
Jurisdictions on the grey list:
Algeria, Angola, Bulgaria, Burkina Faso, Cameroon, Côte d'Ivoire, Croatia, Democratic Republic of the Congo, Haiti, Kenya, Lebanon, Mali, Monaco, Mozambique, Namibia, Nigeria, Philippines, South Africa, South Sudan, Syria, Tanzania, Venezuela, Vietnam, and Yemen.
Jurisdictions on the black list:
Democratic People's Republic of Korea, Iran, and Myanmar
It is noteworthy that a country will be placed on the above lists if it is unwilling or unable to provide foreign law enforcement officials with information about bank accounts, brokerage records, customer identities, or beneficial ownership during investigations of money laundering activities.
The black list will include those countries that are completely unwilling to participate in international anti-money laundering/anti-terrorist financing activities, while the grey list will include those that are still unwilling to participate and are under enhanced monitoring as they continue to improve.
In its latest report, Spillemyndigheden revealed that the average gambling expenditure in Denmark has decreased by nearly 3%.
