The Financial Supervisory Authority of Denmark (FSA) has directed Inpay to stop establishing new relationships with business customers in the online gaming sector.

This decision follows a money laundering inspection conducted in March 2026, during which the FSA identified significant breaches of the Money Laundering Act. Consequently, the regulator has deemed it inappropriate for Inpay A/S to form new business relationships in this area until the company can demonstrate compliance and that previous violations have been remedied.

Inpay A/S operates as a Danish e-money institution under the Payments Act, predominantly facilitating cross-border payments for business clients in online gaming, many of whom are located outside Denmark and the EU. This segment represents a considerable portion of Inpay’s transaction volume, alongside a diverse clientele that includes private customers and non-gaming businesses. However, Inpay has failed to convince the Danish FSA that it has enacted effective customer due diligence measures and transaction monitoring for its online gaming business clients.

The violations identified pertain to inadequate customer due diligence procedures, particularly when there are changes in a customer’s relevant circumstances, as outlined in section 10(1)(1). Furthermore, the company did not properly evaluate the purpose and intended nature of its business relationships, as stipulated in section 11(1)(4), with regards to high-risk online gaming clients associated with money laundering and terrorist financing.

Additionally, Inpay’s ongoing monitoring of these business clients has been deemed insufficient, as noted in section 11(1)(5). The FSA regards these violations as serious. Factors such as the complexity of ownership structures, the diverse nature of the customer base, and operations spanning multiple countries contribute to the severity of the situation.

Moreover, Inpay lacks visibility into deposits from gaming providers’ end users, heightening the risk of being exploited for money laundering or terrorist financing. The shortcomings in the company’s customer due diligence and transaction monitoring pose a tangible threat that could enable illegal gaming activities and unauthorized provision of payment services, thereby significantly increasing the associated risks of money laundering and terrorist financing.