Compliance Updates
Denmark to Phase Out 1000-Krone Banknote by May 2025
Denmarks National Bank has recently announced that they will phase out the 1000-krone banknote. Among other things, the 1000-krone banknote will be phased out with a view to combating and preventing money laundering.
The 1000-krone banknote will not become invalid until 31 May 2025. The police expect that the criminals will use the time to get rid of their 1000-krone banknotes. Just as the banks must be particularly attentive when receiving 1000-krone banknotes in the coming period, gambling operators must also be so. This applies in particular to operators of land-based betting and land-based casinos. However, this also applies to operators of online gambling that allow funds to be deposited using prepaid credit cards and cash vouchers.
The phasing out of the 1000-krone banknote is associated with a number of new risks. It may, therefore, be relevant to assess whether the phasing out of the 1000-krone banknote gives rise to updating oneâs risk assessment. If money laundering is suspected, the Money Laundering Secretariat must be notified.
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The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGRâs global regulatory efforts:
- Anders Dorph, Danish Gambling Authority (Europe)
- Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
- Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
- Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)
IAGR President Ben Haden said, âIâm delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.
âI look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.
âWe also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and Iâm pleased to announce that Jason Lane will continue for another term as a Trustee.â
As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.
In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.
The post IAGR confirms new Board members appeared first on European Gaming Industry News.
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Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces their partnership with Alpha Innovations, a provider of data center services. Under the agreement Internet Vikings will supply Alpha Innovations with VMware licensing through its VMware White Label solution.
Alpha Innovations, known for being a leading Managed Services Provider  including cloud computing, data storage, and backup, has chosen to partner with Internet Vikings, a member of the Broadcom Premier Partnership program. This membership highlights Internet Vikingsâ capabilities in supporting large-scale and highly regulated environments.
Internet Vikings will provide Alpha Innovations with the essential VMware license, an asset for their cloud offerings. This addition enhances Alpha Innovationsâ capability to set up and maintain regulated and compliant cloud environments while upholding their high standards.
âThe added value of our licensing solutions and support services aligns perfectly with Alpha Innovationsâ needs,â said Rickard VikstrĂśm, CEO and Founder at Internet Vikings.
Douglas Tate, CEO at Alpha Innovations added, âAs a leading Managed Service Provider (MSP), Alpha Innovations is always looking for ways to improve our service offerings. Our partnership with Internet Vikings is a win-win for our clients. By leveraging Internet Vikingsâ VMware licensing solutions, we can offer our clients more flexible, scalable, and secure cloud solutions. This will ultimately help our clients achieve their business goals more efficiently and effectively.â
Both companies are committed to maintaining a transparent and mutually beneficial relationship, demonstrating how data centers and hosting providers can collaborate to meet the licensing needs of the industry.
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The Malta Gaming Authority (MGA) has awarded its first-ever ESG (Environmental, Social and Governance) Code Approval Seals to licensees in the online gaming sector, marking a milestone in the Authorityâs commitment to promoting responsible and sustainable industry practices.
This initiative follows the launch of the voluntary ESG Code of Good Practice last year, which invited licensees to submit their ESG disclosure returns. The Code, which covers 19 topics categorised under Environmental, Social and Governance pillars, offers a strategic roadmap for online gaming companies to streamline their reporting efforts.
Following the first annual reporting cycle, 14 gaming operators have been awarded the ESG Code Approval Seal. The Code supports two levels of reporting: Tier 1, which establishes foundational ESG standards, and Tier 2, which represents a more aspirational approach.
Seals are valid for one year, with flexibility for renewal in the subsequent reporting period, allowing operators to advance or adapt their reporting tier year by year.
âWe believe this initiative will significantly enhance the industryâs reputation and sustainability credentials,â MGA CEO Charles Mizzi said.
âBy integrating ESG considerations into their operations, gaming companies not only contribute to the wellbeing of society and the environment but also strengthen the trust and confidence that consumers, investors, and regulators have in the industry. This initiative sends a clear message: sustainability, in the broadest sense of the word, is integral to the future of the gaming sector.â
The post MGA Issues First ESG Code Approval Seals to Licensees appeared first on European Gaming Industry News.
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