February 25, 2024

The Netherlands gambling authority, De Kansspelautoriteit (KSA), has imposed a fine of €3 million ($3.27 million) on BetEnt BV, which is owned by Entain, for failing to comply with anti-money laundering (AML) and terrorist financing regulations.

The KSA found that BetEnt, operating in the Netherlands as BetCity, did not adhere to the strict rules outlined in the Money Laundering and Terrorist Financing Act (WWFT). This includes neglecting to monitor customers’ transactions and report any suspicious activities to the Dutch Financial Intelligence Unit (FIU).

After reviewing BetEnt’s customer surveys protocols and providing clear instructions to the operator in September 2022, the KSA conducted further investigations, which revealed that BetEnt did not meet the requirements for security and AML protocols between December 2022 and May 2023.

The investigation uncovered instances where suspicious activities went unnoticed, and investigations into transfers did not occur until after large sums were gambled. Additionally, the company failed to establish the source of funds and did not report unusual transactions to the FIU. As a result, the KSA decided to issue an immediate fine of €3 million ($3.27 million).

René Jansen, the chairperson of the KSA, stated that earlier in the year, BetEnt was fined €400,000 for breaching rules related to targeting young adults in its marketing campaigns. The total fines for 2023 have now surpassed €400 million ($433.9 million), with the KSA’s fines accounting for nearly €23.4 million ($25.5 million) of that amount.

According to research by USA-Casino.com, the gambling industry fines in 2022 amounted to €251,712,034 ($269,532,490), representing a significant increase of 443.9% compared to the previous year. The figures for 2023 have already seen a 59.3% year-on-year increase with a month still remaining in the year.