Denmark’s Financial Supervisory Authority (FSA) has ordered Inpay to stop establishing new business customer relationships within online gaming.

Based on a money laundering inspection in March 2026, the regulator has found serious violations of the Money Laundering Act and therefore assesses that it is not appropriate for Inpay A/S to establish new business customer relationships within online gaming before the company has documented to the FSA that the serious violations of the Money Laundering Act have ceased.

Inpay A/S is a Danish e-money institution licensed under the Payments Act, whose business model primarily consists of facilitating cross-border payments for business customers within online gaming, which are typically located outside Denmark and often outside the EU. This customer group constitutes a significant part of the company’s total transaction volume, while the customer portfolio also includes private customers and customers outside the gaming industry.

The company could not prove to the Danish FSA that it implements sufficient customer due diligence procedures and transaction monitoring of the company’s business customers within online gaming.

The serious violations concern insufficient implementation of customer due diligence procedures when a customer’s relevant circumstances change, cf. section 10(1)(1), as well as a failure to assess the purpose and intended nature of the business relationships, cf. section 11(1)(4), in relation to business customers within online gaming who are classified as high risk for money laundering and terrorist financing.

In addition, the company does not conduct sufficient ongoing monitoring of the company’s business customers within online gaming, cf. section 11(1)(5).

The Danish FSA assesses that the violations are serious, and the extent, type of customer, including the complexity of ownership structures and activities across many countries, are aggravating factors for how significant the violation is.

The company also does not have insight into deposits from the gaming providers’ end users, which overall increases the risk that the company can be used for money laundering or terrorist financing. 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 license, which entails a particularly high risk of money laundering and terrorist financing.

Illegal gaming providers are not subject to the same requirements for the prevention of money laundering and terrorist financing or consumer protection as licensed providers, which further increases the risk.

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) of the Money Laundering Act have been resolved. 1, no. 1, and § 11, subsection 1, no. 4 and no. 5, have ceased.

The company stated that it has voluntarily ceased the establishment of new business customer relationships within online gaming.