The Financial Supervisory Authority (Finanstilsynet) of Denmark has instructed Inpay to refrain from onboarding potential players from due to serious omissions in its anti-money laundering compliance process.
This ban will remain in force until the regulator is satisfied that the pertinent breaches have been rectified.
The supervision was initiated after an anti-money laundering check of Inpay carried out in March 2026. The regulator found that while processing onboarding applications, the company failed to properly carry out due diligence on its customers. For instance, the checks undertaken were insufficient when customers’ information changed, and the objectives and nature of the business relationship needed were inadequately assessed in the context of the high-risk iGaming customers. Shortcomings were also noted in monitoring the transactions of clients operating in the online gaming.
According to the regulator, the above-mentioned non-compliance occurs in most of Inpay’s clients representing a substantial amount of all transactions carried out by this company. The problem arises as most clients are based outside Denmark and Europe. We have been told by Finanstilsynet that these loopholes increase the chance of Inpay being used for money laundering and funding terrorism.
Inpay cannot form any partnerships with online gaming companies until it receives approval from the regulatory authority confirming that it has taken all necessary steps concerning the violations of Denmark’s Anti-Money Laundering Act. Inpay has assured that it respects this ruling, which allows the company to begin working with new customers in the iGaming sector start from July 27.
All the existing customers will be able to continue using Inpay’s services without any interruptions. The company noted that the provisional nature of this ruling excludes any possibility of any actions against any customers already using Inpay’s services. Inpay is a payment service provider that was established in 2008 in Copenhagen and engages in cross-border transactions, both in fiat and cryptocurrency.