Finanstilsynet Orders Inpay to Rectify AML Deficiencies
The Danish Financial Supervisory Authority (Finanstilsynet) has ordered cross-border payments firm Inpay to correct significant anti-money laundering (AML) deficiencies following an on-site inspection. — Finanstilsynet Inspection Summary
Finanstilsynet stated that the fintech firm’s risk assessment and mitigation measures failed to adequately prevent the business from being misused for money laundering and terrorist financing. — Regulatory Compliance Monitor
The supervisory authority issued five orders to Inpay, primarily targeting deficiencies in risk assessment, customer due diligence (CDD), and ongoing transaction monitoring. — Nordic Fintech Watch
High-Risk iGaming Transactions and Inadequate Due Diligence
A substantial portion of Inpay’s transaction volume stemmed from high-risk sectors, notably international iGaming operators and corporate entities in jurisdictions with elevated money laundering risks. — European Payments Intelligence
According to Finanstilsynet, ‘Inpay’s written procedures for establishing customer relationships and conducting ongoing KYC checks on high-risk gambling platforms were insufficient to identify ultimate beneficial owners and verify the origin of funds.’ — Finanstilsynet Official Statement
The regulator noted that Inpay processed transactions on behalf of corporate payment service users without establishing sufficient insight into the underlying gambling-related payment flows. — iGaming Compliance Review
Escalated Transaction Screening and Regulatory Sanctions
| Regulatory Focus Area | Finanstilsynet Finding | Prescribed Action |
| Enterprise Risk Assessment | Inadequate identification of inherent risks tied to cross-border online gambling clients. | Overhaul risk taxonomy and document sector-specific exposure. |
| Ongoing Monitoring | Automated alerts failed to flag anomalous transaction spikes from payment aggregators. | Deploy stricter transaction monitoring thresholds and screening controls. |
| Beneficial Ownership (KYC) | Insufficient verification of corporate control structures across multi-tiered entities. | Re-screen existing portfolio and pause onboarding non-compliant accounts. |
Finanstilsynet has given Inpay strict deadlines to submit updated compliance documentation and demonstrate operational adherence to the Danish Anti-Money Laundering Act. — Nordic Compliance Report
The regulator warned that failure to remedy the identified compliance breaches could lead to formal police reporting or administrative operational sanctions. — Finanstilsynet Regulatory Notice
Inpay’s Remediation Plan and Internal Governance Overhaul
In response to the inspection report, Inpay stated that it has initiated a comprehensive remediation programme, appointing external legal and AML advisors to audit its systems. — Payments Industry Update
Inpay acknowledged the supervisory findings and stated: ‘We take our regulatory obligations with utmost seriousness and have already implemented substantial upgrades across our compliance framework, enhanced screening systems, and expanded AML personnel to meet Finanstilsynet’s mandates.’ — Inpay Official Corporate Response
Leo Falsafi is a digital marketing veteran and senior journalist at Virlan.co, where he covers the intersection of digital marketing, gaming, and breaking US trending news. With nearly two decades of hands-on experience in SEO and digital strategy, Leo has consulted for and scaled hundreds of companies. His deep industry roots allow him to deliver sharp, fact-checked insights and analysis on the trends shaping today's digital landscape.