Denmark’s financial regulator said the payments firm had violated anti-money laundering lesiglation by failing to uphold due diligence on its iGaming customers.
Denmark’s financial regulator, the Danish Financial Supervisory Authority (Finanstilsynet), has issued Danish fintech firm Inpay with an injunction over what it describes as “serious violations” of the Money Laundering Act.
The injunction, announced on Monday, temporarily bars Inpay from establishing new business customers in the online gaming sector until the firm has documented to Finanstilsynet that violations of the Money Laundering Act have ceased.
Inpay A/S is a Copenhagen-based fintech firm offering payment services for the online gaming industry alongside other sectors. The firm says it offers low-cost, real-time, 24/7 cross-border payments for businesses and financial institutions, including both fiat and crypto payments.
Finanstilsynet’s ruling comes after it carried out a money laundering inspection in March 2026.
The regulator outlined that the violations concern insufficient implementation of customer due diligence procedures when a customer’s circumstances change, alongside a failure to assess the purpose and intended nature of business relationships with iGaming clients that carry a high risk of money laundering or terrorist financing. It also ruled that the company does not carry out sufficient “outgoing monitoring” of its iGaming customers.
Finanstilsynet details AML breaches
Finanstilsynet claimed the violations concern the “majority” of the company’s customer portfolio, which it says accounts for a significant portion of the company’s total transaction volume and largely comes from outside Denmark or the EU as a whole.
“The deficiencies in the company’s customer due diligence procedures and transaction monitoring entail a real and significant risk that the company supports illegal gaming activities and the provision of payment services without a permit, which entails a particularly high risk of money laundering and terrorist financing,” the financial regulator’s statement said.
“The company has therefore been ordered to stop establishing new business customer relationships within online gaming until the company has documented to the Danish Financial Supervisory Authority that the serious violations of Section 10(1)(1) and Section 11(1)(4) and (5) of the Money Laundering Act have ceased.”
Inpay is licensed under Denmark’s Danish Payments Act. The company, which was founded in 2008, has offices in Copenhagen and London. In 2022 Inpay was named the fastest growing company in Denmark per the Financial Times’ FT 1000 business ranking.
iGB has contacted Inpay with a request for comment but is yet to receive a response at the time of writing…
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