KSA fines Entain’s Dutch unit

Jake Graves 2 months ago
KSA fines Entain’s Dutch unit

The gambling regulator for the Netherlands, Kansspelautoriteit (KSA), has imposed a substantial fine of 3 million EUR on BetEnt.

Entain’s Dutch unit has been found guilty of significant failures against the Money Laundering and Terrorist Financing (Prevention) Act (Wwft). 

The regulator noted that BetEnt, which operates under the name BetCity, frequently initiated AML investigations late, laxly requested sources of income from players, and had inadequate customer risk profile investigations between December 2022 and May 2023.

KSA stance

According to the Wwft, gambling operators must monitor their customers’ transactions and report unusual transactions to the Dutch Financial Intelligence Unit (FIU).

René Jansen, Chairman of the Board at the KSA had this to say on the matter:

“The Ksa gave a wide warning to licensed providers in May last year that they had to quickly put their Wwft cases in order. We then indicated that when research shows that Wwft providers are underperforming, sanctions are imposed. We are now responding to that. We are now really out of the start-up phase of the market, and that also means that there are no excuses for some things.”

Entain’s response

Entain, which paid €850 million for BetEnt, acknowledges the KSA’s instructions in September 2022 and states that legal documentation includes customary contractual protections.

The operator has now expressed its commitment to implementing improvements, cooperating with the investigation along with maintaining high standards of player protection.

In lieu of the fine, BetEnt mentioned its efforts to seek clarity from the KSA but received no reply. 

The regulator insists that the requirements are clear, and BetEnt should have known about its non-compliance.

Previous infringements

This is not BetEnt’s first reprimand as in April the operator faced a €400,000 fine from the KSA for improperly offering advertising to adults aged 18 to 24.

SiGMA Eurasia

SiGMA’s world-renowned summits will return in 2024 when SiGMA Eurasia graces the industry’s calendar once again. Dubai will be the host yet again for the much-anticipated conference and exhibition from the 25th – 27th of February. Get your tickets now to ensure you won’t miss out!

Share it :

Recommended for you
Lea Hogg
9 hours ago
Shirley Pulis Xerxen
11 hours ago
News Team
16 hours ago
Jenny Ortiz
17 hours ago
Jenny Ortiz
22 hours ago
News Team
1 day ago
Lea Hogg
1 day ago
Jenny Ortiz
1 day ago
Jenny Ortiz
1 day ago
Jenny Ortiz
1 day ago
Jenny Ortiz
4 days ago
Jenny Ortiz
4 days ago
News Team
4 days ago
Lea Hogg
4 days ago
Lea Hogg
4 days ago
Jenny Ortiz
4 days ago
Jenny Ortiz
4 days ago
Jenny Ortiz
5 days ago
Jenny Ortiz
5 days ago
Lea Hogg
5 days ago
Jenny Ortiz
5 days ago
News Team
6 days ago
Jenny Ortiz
6 days ago
Jenny Ortiz
6 days ago
News Team
6 days ago
Shirley Pulis Xerxen
6 days ago
Jenny Ortiz
6 days ago
Jenny Ortiz
6 days ago
Jenny Ortiz
1 week ago
News Team
1 week ago
News Team
1 week ago
Katy Micallef
1 week ago
News Team
1 week ago
News Team
1 week ago
News Team
1 week ago
Jenny Ortiz
1 week ago