Denmark’s Finanstilsynet bars Inpay from onboarding new iGaming customers over AML failings

Denmark’s financial regulator has issued Inpay with an injunction after finding “serious violations” of the Money Laundering Act in the firm’s controls for online gaming clients. For PSPs and acquirers in high-risk verticals, the practical message is simple: customer due diligence and ongoing monitoring are not optional extras, especially when most of the portfolio sits in iGaming.

1. On Monday, the Danish Financial Supervisory Authority (Finanstilsynet) said Inpay A/S had breached anti-money laundering rules and temporarily barred the Copenhagen-based fintech from establishing new business customers in the online gaming sector until it can document that the violations have stopped.
2. The regulator said its findings followed a money laundering inspection carried out in March 2026. It pointed to insufficient customer due diligence when customer circumstances change, a failure to assess the purpose and intended nature of business relationships with iGaming clients that carry a high risk of money laundering or terrorist financing, and insufficient “outgoing monitoring” of those customers.
3. Finanstilsynet said the violations concern the “majority” of Inpay’s customer portfolio and that this portfolio accounts for a significant portion of the company’s total transaction volume. It also said the business largely comes from outside Denmark or the EU as a whole.
4. In its statement, the regulator said the deficiencies create “a real and significant risk” that the company supports illegal gaming activities and the provision of payment services without a permit, which it described as carrying a particularly high risk of money laundering and terrorist financing. The order remains in place until Inpay documents compliance with Section 10(1)(1) and Section 11(1)(4) and (5) of the Money Laundering Act.
5. Inpay is licensed under Denmark’s Danish Payments Act. Founded in 2008, it has offices in Copenhagen and London and says it offers low-cost, real-time, 24/7 cross-border payments for businesses and financial institutions, including fiat and crypto payments. In 2022, Inpay was named the fastest growing company in Denmark in the Financial Times’ FT 1000 ranking.

The thing high-risk PSPs will notice here is the regulator’s focus on portfolio composition: Finanstilsynet did not frame this as a small control gap at the edge of the business, but as an issue touching the majority of the customer book and a meaningful share of transaction volume. That is the sort of language that tends to matter when a regulator decides whether onboarding can continue.