Denmark

Plain English

A business or person handling or distributing cash to the public, including a currency exchanger, must remove suspected counterfeit notes and coins and immediately hand them to police. The Act excludes euro notes and coins covered by the cited EU regulation because that regulation has a similar surrender obligation.

Obligation

If, in its business handling or distributing notes or coins to the public, the actor knows or has reason to believe a note or coin is counterfeit, it must withdraw it from circulation and immediately hand it to police.

Report

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to an undertaking or person whose business includes handling and distributing banknotes or coins to the public, including currency exchange, when it knows or has reason to believe a note or coin is counterfeit.

Exceptions

Subsection 2 excludes euro banknotes and coins governed by Council Regulation 2009/44/EC, which provides a similar obligation for euro cash; this is not an exception for other currencies.

Plain English

A group must maintain adequate written data-protection policies and written group rules and procedures for sharing information to combat money laundering and terrorist financing. Each group undertaking must follow those rules, in addition to its own section 8 controls.

Obligation

Groups must maintain the stated written data-protection and AML/CTF information-sharing policies and procedures; each group undertaking must comply with the group policies and procedures as well as section 8.

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to a group with undertakings subject to section 8; subsection 2 requires each undertaking that is part of the group to comply with its group policies and procedures.

Exceptions

No exception is stated in this section. These requirements are additional to section 8; other legal limits on information sharing are not displaced.

Plain English

Covered undertakings and persons must perform the customer due-diligence measures in sections 11–21 at five trigger points: opening a relationship, relevant customer changes or other appropriate/review points; specified occasional transactions at the stated thresholds (including linked transactions, transfers, crypto-asset activity and gambling); any ML/TF suspicion regardless of thresholds; or doubt about the reliability or sufficiency of prior identity information. The provision does not itself spell out the individual checks; those are in sections 11–21.

Obligation

When any of the five statutory triggers occurs, the covered undertaking or person must perform the applicable customer due-diligence procedures in sections 11–21; linked transactions count together where the relevant threshold clause says so.

Verify

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies only to undertakings and persons within the Act. Triggers include relationship establishment/review and relevant changes; occasional transactions at the exact euro thresholds and transaction types in nos. 2–3 (including linked transactions); any ML/TF suspicion; or doubt about identity information.

Exceptions

No general exception is stated. The thresholds do not limit the suspicion trigger in no. 4; this section directs the reader to sections 11–21 for the actual due-diligence measures.

Plain English

Before and during a customer relationship, identify the customer and beneficial owners, verify them from reliable independent evidence, understand why the relationship exists, monitor activity against the customer profile and refresh information. Identify and verify representatives and their authority. Apply every required step, scaling its depth to risk and at least considering both statutory factor schedules. Record verification difficulties and be ready to show the supervisor that customer knowledge matches the risk.

Obligation

Collect and verify customer and beneficial-owner identity, establish the relationship’s purpose, monitor and refresh customer information, identify representatives and verify authority, document verification difficulties, and demonstrate risk-adequate customer knowledge to the supervisor.

Collect information Verify Assess Retain records

Data items: natural-person name and CPR number/equivalent or date of birth, legal-person name and CVR number/equivalent, beneficial-owner identity and ownership/control structure, representative identity and authority, relationship purpose and intended nature, transaction activity, customer risk profile and, where needed, source of funds, verification steps and difficulties

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies when section 10 requires customer due diligence: establishing a business relationship, specified occasional transactions, gambling thresholds, suspicion regardless of threshold, or doubt about previously obtained identity information. Ongoing monitoring and updating apply to established relationships. The duty to identify and verify a person acting for a customer is triggered by a representation of authority or doubt about whether the person acts for themselves.

Exceptions

The extent of the full due-diligence procedure may be calibrated by risk, but all required elements remain in scope and the assessment must include relationship purpose, scope, regularity, duration and at least Schedules 2 and 3. The authority-verification requirement has a stated exception for a lawyer authorised in Denmark or another EU/EEA country. Beneficiary verification may be completed no later than payment or exercise of the right in the specified trust/foundation cases.

Plain English

A life or pension insurer must obtain the named beneficiary’s name, or enough identifying information to identify an unnamed or multiple beneficiaries at claim time. It must verify their identity from a reliable, independent source before paying the policy benefit.

Obligation

Life and pension insurers must identify the policy beneficiary and verify beneficiary identity from a reliable, independent source before paying a benefit.

Collect information Verify

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings offering life or pension insurance, in addition to section 11; applies to a named beneficiary and requires sufficient identifying data if unnamed or multiple beneficiaries exist.

Exceptions

No exception is stated. Verification must occur before policy payment.

Plain English

Verify the customer and beneficial owners before starting a relationship or transacting, and obtain the Danish beneficial-ownership registration extract where the entity is required to register. Limited timing exceptions allow verification during onboarding only when needed for normal business and risk is low; a safeguarded securities account may not transact before checks; a temporary gambling account must be verified within 30 days. If the required checks cannot be completed, stop or wind down the relationship, block further transactions and consider a section 26 report. Lawyers handling legal-position or litigation work, and specified professional assistants acting for them, are exempt from that termination/report-consideration rule to the stated extent.

Obligation

Verify the customer and beneficial owners before onboarding or transaction, subject only to the listed low-risk, safeguarded securities-account and temporary gambling-account timing exceptions. If required CDD cannot be completed, terminate or wind down the relationship, stop further transactions, and consider whether to report under section 26.

Verify Collect information Prohibited action Report

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings and persons subject to the Act before establishing a business relationship or carrying out a transaction. The obligation covers customer and beneficial-owner identity and the specified Danish register extract for entities required to register.

Exceptions

Verification may be completed during onboarding only when necessary to preserve normal business and risk is limited, and then as soon as possible after first contact. A securities account may be opened only with safeguards blocking transactions until checks are complete. A temporary gambling account must be verified within 30 days. The subsection 5 termination rule does not apply to lawyers performing legal-position or litigation work or the specified professionals assisting them in that work.

Plain English

When customer information gathered under this Chapter is inadequate and cannot be brought up to date, the covered actor must take suitable steps to reduce the resulting ML/TF risk. It must consider ending the relationship, as described in section 14(5); termination is one measure to consider, not an automatic result in every case.

Obligation

If Chapter information is inadequate and cannot be updated, take appropriate measures against ML/TF risk, including considering termination of the relationship.

Assess

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies when an undertaking or person subject to the Act becomes aware that information gathered under this Chapter is inadequate and cannot be updated.

Exceptions

No automatic termination is imposed by this section: termination is expressly one measure to consider. The actor must still take appropriate risk-mitigating measures.

Plain English

A covered undertaking or person that finds a mismatch between customer beneficial-owner information and the Danish register must report the mismatch with evidence to the Danish Business Authority as soon as possible. A competent authority has the same duty when its available information conflicts with the register, unless reporting would unduly disrupt its functions. The Authority may prescribe technical reporting rules.

Obligation

Report a discovered beneficial-ownership discrepancy between the Danish register and the reporter’s information, with supporting evidence, as soon as possible; competent authorities have the same duty subject to the functional-interference exception.

Report

Data items: beneficial-ownership discrepancy, supporting documentation

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

For undertakings and persons, trigger is awareness that CDD beneficial-owner information for a customer differs from the Danish Business Authority register. For a competent authority, trigger is awareness of a discrepancy between the register and ownership information available to it.

Exceptions

A competent authority need not report under subsection 2 if doing so would unduly interfere with its functions. No comparable exception is stated for undertakings or persons.

Plain English

When the firm’s assessment finds higher money-laundering or terrorist-financing risk, apply extra checks beyond ordinary customer due diligence. A customer established in a Commission-listed high-risk third country triggers the listed enhanced measures. Transactions involving such a country also require at least one additional mitigation measure and, where relevant, a first payment through a qualifying account. A narrow, risk-assessed group-branch/subsidiary waiver applies only when all listed EU/EEA, equivalent-rule and group-policy conditions are met.

Obligation

For higher assessed risk and the listed high-risk-country triggers, obtain the specified additional customer, beneficial-owner, wealth/source, relationship and transaction information; obtain designated senior approval; increase monitoring; add at least one listed mitigation for transactions involving a listed country; and, where relevant, require the specified first-payment route.

Assess Collect information Verify Report Prohibited action

Data items: customer and beneficial-owner details, relationship purpose and intended nature, origin of funds and source of wealth, transaction reasons, approval and monitoring record

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies where the risk assessment finds increased money-laundering/terrorist-financing risk, and mandatorily where the customer is established in a country on the European Commission high-risk third-country list. For any natural/legal-person transaction involving such a country, one or more additional mitigation measures are required; the first-payment condition applies when considered relevant.

Exceptions

The first-payment measure is conditional on relevance. Subsection (2) alone may be waived on a risk assessment for a branch or majority-owned subsidiary of a parent legal person established in the EU/EEA and subject to Directive 2015/849/EU requirements, if the affiliate follows section 9(2) group policies. The EU/EEA establishment predicate belongs to the parent, not the affiliate. This does not waive subsection (1) risk-based enhanced due diligence or subsection (3) transaction mitigation.

Plain English

Covered actors need procedures to identify PEPs and their family members/close associates across the customer, beneficial owner and life-policy beneficiary chain. For a PEP-related customer, establish the source of funds and wealth, obtain designated-person approval before starting or continuing the relationship, and apply enhanced monitoring. For a PEP-related life-policy beneficiary, clarify the insurance circumstances using a risk assessment and alert the designated approver before payment or a full/partial transfer. Continue risk assessment and enhanced CDD for at least 12 months after a PEP leaves office and longer until the person no longer presents increased risk. The remaining subsections impose list-keeping and delegated-rule tasks on ministers and accredited international organisations.

Obligation

Maintain PEP identification procedures; for PEP-related customers establish source of funds/wealth, obtain designated approval for onboarding/continuation and apply enhanced monitoring; for PEP-related policy beneficiaries clarify the insurance circumstances and alert the approver before payment/transfer; after office ends, assess for at least 12 months and continue enhanced CDD while increased risk remains.

Verify Assess Report

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to actors covered by the Act when the customer, beneficial owner, life-policy beneficiary or that beneficiary’s beneficial owner is a PEP, family member or close associate as defined in section 2. Different actions apply to customer relationships and policy beneficiaries as stated in subsections 2–6.

Exceptions

A former PEP receives at least 12 months of post-office risk assessment and enhanced CDD, continuing longer if increased risk remains. The policy-beneficiary steps are risk-assessment based. No blanket exemption is stated for PEP-related relationships.

Plain English

Before entering the specified cross-border payment correspondent relationship, perform section 11 CDD plus four extra checks: understand the respondent and assess its reputation/supervision from public information; confirm its effective AML/CTF controls; obtain approval from the section 7(2) appointee; and document each party’s compliance responsibilities. Before crypto-asset services, check the respondent’s local authorisation/registration. If the respondent’s customer can directly use funds in the correspondent account, ensure the respondent does CDD and can provide its records on request.

Obligation

For the defined correspondent relationship, complete four additional pre-entry checks and approval/documentation steps; before crypto-asset services check respondent authorisation/registration; where respondent customers directly access correspondent-account funds, ensure the respondent conducts CDD and can provide records on request.

Collect information Assess Verify Retain records

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Subsection 1 applies before a cross-border correspondent relationship involving payments with a respondent institution outside the EU where the EU has no financial-services agreement with the relevant country. Subsection 2 applies before crypto-asset services. Subsection 3 applies if a respondent’s customer has direct access to funds held in an account with the correspondent.

Exceptions

The extra subsection 1 checks supplement section 11 CDD and are limited to the specified cross-border relationship. Subsection 3 is conditional on direct customer access; no exception to the four listed checks is stated.

Plain English

Do not establish or keep a correspondent relationship with a shell bank. Also take reasonable steps to avoid a relationship with another undertaking if public information indicates that it lets shell banks use its accounts.

Obligation

Prohibit correspondent relationships with shell banks and take reasonable measures to avoid relationships with undertakings publicly known to permit shell banks to use their accounts.

Prohibited action Assess

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings and persons covered by the Act when establishing or maintaining correspondent relationships. The subsection 2 risk is triggered by publicly available information indicating that the respondent allows shell banks to use its accounts.

Exceptions

No exception is stated to the prohibition on a shell-bank relationship. Subsection 2 requires reasonable avoidance measures, rather than stating an absolute ban on every respondent where information is public.

Plain English

Simplified CDD is permitted only for the section 11 and 12 requirements after the covered actor assesses the relationship or transaction as low risk. The assessment must consider Schedule 2’s low-risk factors and other relevant factors. Separately, the Financial Supervisory Authority may exempt electronic-money issuers from specified CDD requirements by rule in areas assessed as low risk.

Obligation

Before using simplified CDD under sections 11 and 12, assess the relationship or transaction as low risk and consider Schedule 2 and other relevant low-risk factors.

Assess Verify

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings and persons subject to the Act who seek to use simplified CDD for requirements in sections 11 and 12; low risk must be determined before applying it.

Exceptions

This is permission for simplified rather than full CDD only where risk is low, not a general exemption. The Financial Supervisory Authority may separately make rules disapplying specified CDD requirements for electronic-money issuers in low-risk areas.

Plain English

A covered firm may rely on qualifying third parties to collect and verify the specified section 11 information, but must itself check the third party’s equivalent CDD/record-keeping regime and supervision, secure prompt access to records, and remains legally responsible. Reliance is barred for third parties in a European Commission high-risk third country except qualifying EU/EEA-group branches or majority-owned subsidiaries that fully follow the group’s section 9(2) rules.

Obligation

Before relying on a third party for specified CDD, verify its qualifying status, equivalent CDD/retention rules and supervision; ensure prompt access to evidence; retain responsibility for statutory compliance.

Assess Verify Retain records

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Reliance is available only for section 11(1), nos. 1–4, information supplied by one of the listed regulated/supervised categories meeting equivalent AML/CTF requirements. The relying firm must assess the third party and ensure it will promptly supply evidence on request.

Exceptions

Reliance is unavailable for third parties established in a Commission-listed high-risk third country. Exception: a branch or majority-owned subsidiary there of an EU/EEA-established obliged entity may qualify if it fully complies with group policies and procedures under section 9(2). The relying firm remains responsible in all cases.

Plain English

A group member may have another undertaking in the same group perform the specified customer-identification steps only when the group-wide CDD, record-retention and AML/CTF programme meets the cited EU directive requirements and a public authority supervises compliance at group level.

Obligation

A group undertaking using another group company for specified CDD must ensure the group regime meets the cited directive standards and is supervised at group level.

Assess Verify

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies only to an undertaking subject to the Act and part of a corporate group that meets both the specified group-wide programme standards and group-level authority-supervision condition.

Exceptions

This is a conditional option, not a transfer of statutory responsibility or a general group exemption. It covers only section 11(1), nos. 1–4.

Plain English

You may outsource AML tasks by contract only after checking the supplier’s capability, capacity and required permissions. Monitor performance continuously and keep assessing whether outsourcing remains appropriate. The authorised decision-maker appointment cannot be outsourced, and outsourcing never transfers the covered firm’s legal responsibility.

Obligation

Before outsourcing, verify supplier capability, capacity and permissions; monitor compliant delivery continuously and reassess outsourcing soundness. Do not outsource the section 7(2) authorised-person appointment; remain responsible for all statutory obligations.

Assess Verify Appoint a role

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to a covered undertaking or person that chooses contractual outsourcing of tasks performed to comply with the Act.

Exceptions

The appointment duty under section 7(2) cannot be outsourced. All other outsourcing remains subject to capability/capacity/permit checks, ongoing monitoring and continued responsibility of the outsourcing party.

Plain English

Investigate the background and purpose of complex, unusually large, unusually patterned or apparently purposeless transactions, and unusual activities without an apparent economic or lawful purpose. Increase customer monitoring where relevant to determine whether the activity is suspicious, and record and retain investigation results under section 30. The data subject cannot access personal data processed for these investigations under subsections 1–3.

Obligation

Investigate each listed unusual transaction/activity, extend monitoring when relevant to assess suspiciousness, and record and retain the findings; the data subject access right is excluded for personal data processed under these paragraphs.

Assess Retain records Prohibited action

Data items: transaction/activity facts, purpose and economic or lawful rationale, customer context and monitoring results, investigation conclusions

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings and persons covered by the Act when a transaction is complex, unusually large, unusually patterned or apparently without economic/lawful purpose, or when an unusual activity has no apparent economic/lawful purpose.

Exceptions

Enhanced monitoring is required only where relevant. Subsection 4 removes data-subject access only for personal data processed under subsections 1–3; it is not a general denial of all access rights.

Plain English

Report immediately when the statutory knowledge, suspicion or reasonable-grounds test is met, including the specified attempts and prospective-customer enquiries. Under subsection (3), hold an uncompleted money-laundering transaction until reporting, subject to that subsection's narrow post-completion alternative. Subsections (4) and (6) separately require reporting and Secretariat approval where there is knowledge, suspicion or reasonable grounds concerning major/particularly suspicious money laundering or terrorist financing. The next-banking-day deadline concerns a seizure decision, not deemed approval.

Obligation

Notify the Money Laundering Secretariat immediately on the statutory suspicion trigger; hold the specified uncompleted transactions; and obtain Secretariat approval before proceeding in the major/particularly suspicious money-laundering and suspected-terrorist-financing cases.

Report Prohibited action

Data items: transaction, funds or activity and its connection to suspected money laundering/terrorist financing, facts supporting knowledge, suspicion or reasonable grounds, attempted transaction or prospective-customer enquiry, where relevant, hold and approval status

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

The immediate-report trigger is knowledge, suspicion or reasonable grounds concerning a transaction, funds or activity connected with money laundering or terrorist financing; it also covers the specified attempts/enquiries. Subsection (3) requires holding an uncompleted money-laundering transaction until reporting. Under subsections (4) and (6), knowledge, suspicion or reasonable grounds concerning major/particularly suspicious money laundering or terrorist financing requires reporting and Secretariat approval before proceeding.

Exceptions

A member of the Danish Bar and Law Society may use its secretariat relay; the secretariat must forward the report unedited if it assesses the reporting duty applies. Subsection (3) alone allows immediate reporting after completion if stopping is impossible or could harm the investigation; this alternative is not extended to subsections (4) and (6). The next-banking-day deadline is for arranging a seizure decision, not automatic approval.

Plain English

This is a limited exception to section 26 reporting for information obtained in specified legal work: a lawyer’s legal-position advice or representation/defence in court, Tax Tribunal or arbitration proceedings, including before and after the case; an auditor representing a client before the National Tax Tribunal; and specified professionals assisting a lawyer in the same protected work. The exception does not apply if the provider knows or should know that the client seeks help to launder money or finance terrorism.

Obligation

Assess whether the information comes within the specified professional exception from section 26 reporting; the exception is unavailable if the provider knows or ought to know the client seeks assistance for money laundering or terrorist financing. This exemption does not itself establish a reporting prohibition or voluntary-disclosure permission.

Assess

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Lawyers: information from or about the client in legal-position work or representation/defence in or around court, National Tax Tribunal or arbitration proceedings, whether received before, during or after. Auditors under section 1(1), no. 14: when representing a client before the National Tax Tribunal, at any point before, during or after. Section 1(1), nos. 13–16 professionals assisting a lawyer receive the lawyer’s exception to the stated extent.

Exceptions

No exception applies if the undertaking or person knows or ought to know that the client seeks the assistance to launder money or finance terrorism. This is a limited section 26 reporting exception, not a general professional privilege rule.

Plain English

On the FIU's request, a covered undertaking/person must immediately supply all information necessary for its subsection (2) tasks, subject to section 27(1)-(3); section 26(2) applies to the lawyer's response route. A recipient must not disclose a subsection (5) case-status notice to unauthorised persons. The other subsections describe FIU independence, analysis, dissemination and national-risk-assessment functions.

Obligation

Immediately provide the necessary information requested by the FIU; do not disclose a received case-status notice to unauthorised persons.

Report Prohibited action

Data items: necessary requested information, case-status notice

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

Investigation

Conditions

FIU request under subsection (4), or receipt of a subsection (5) case-status notice.

Exceptions

Section 27(1)-(3) reporting exemption and corresponding section 26(2) lawyer response route.

Plain English

Retain CDD/identity evidence, transaction and account records, business correspondence, and section 25 investigation files for at least five years after the relationship ends or one-off transaction completes. Erase personal data after five years unless another law requires otherwise. On an FIU or competent-authority enquiry about a specified person and current/recent relationship, provide the records securely and confidentially.

Obligation

Retain the listed CDD, transaction, account, correspondence and investigation records for at least five years after relationship end or transaction completion; erase personal data after five years unless other law says otherwise; disclose records for qualifying authority enquiries through secure, confidential channels.

Retain records Report Prohibited action

Data items: CDD and identity/verification records, identification-document copies, transaction, account and correspondence records, section 25 investigation records

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to all undertakings and persons covered by the Act. Retention period runs from relationship end or completion of the occasional transaction. Disclosure is triggered by an enquiry from the Money Laundering Secretariat or another competent national authority about specified persons and relationships held currently or in the preceding five years.

Exceptions

Other legislation may require a different personal-data retention/deletion outcome. Authority disclosure must use secure channels and protect the confidentiality of the enquiry.

Plain English

For EU/EEA operations, ensure the locally established undertaking follows that country’s AML/CTF rules. For a branch or majority-owned subsidiary in a non-EU/EEA country with weaker rules, apply the parent undertaking’s Danish Act and data-protection standards as far as local law permits. If local law blocks those standards, add other controls to address ML/TF risk and notify the Danish supervisor.

Obligation

Ensure EU/EEA operations follow host-country AML/CTF law. For specified weaker-regime third-country branches/subsidiaries, apply Danish AML and data-protection standards so far as local law permits; if blocked, add alternative risk measures and notify the supervisor.

Assess Report

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Subsection 1 applies to an undertaking operating in another EU/EEA country. Subsections 2–3 apply to a branch or majority-owned subsidiary in a non-EU/EEA country whose AML/CTF requirements are less strict than this Act.

Exceptions

Danish AML and data-protection requirements apply to the third-country branch/subsidiary only insofar as local law does not conflict. If local law prevents implementation, the alternative is additional risk measures and supervisory notification.

Plain English

Before establishing a branch or representative office in a Commission-listed high-risk third country, give the Danish supervisor the country, a description of the operation and planned activities, its address and management names. Notice is not approval: the supervisor may prohibit the establishment and may set rules requiring additional regard for inadequate local AML/CTF arrangements.

Obligation

Before opening a branch or representative office in a Commission-listed high-risk third country, notify the supervisor and provide the four specified information categories; comply with any supervisory prohibition or applicable rule.

Report Collect information Prohibited action

Data items: destination country, business/organisation/planned activities, office address, management names

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to an undertaking or person covered by the Act that proposes a branch or representative office in a country included on the European Commission high-risk-third-country list.

Exceptions

No notice exception is stated. Filing notice is not permission to proceed; the supervisor may prohibit establishment and may issue further risk-related rules.

Plain English

When a group company has filed a section 26(1) or (2) report and suspects funds are crime proceeds or linked to terrorist financing, it must share that fact with other group companies. Share only the personal data necessary to meet this duty.

Obligation

After a section 26 report in the specified suspected-funds case, share the suspicion with other group companies while limiting personal-data disclosure to what is necessary.

Report Prohibited action

Data items: information that funds are suspected proceeds of crime or connected with terrorist financing

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies between companies in a group only where funds are suspected to be proceeds of a criminal offence or connected to terrorist financing and a report under section 26(1) or (2) has been made.

Exceptions

Personal data may be shared only to the extent necessary to fulfil this information-sharing duty; this is not a general permission for intra-group data sharing.

Plain English

The Minister may appoint the Danish authority that publishes names appearing on UN sanctions lists. A name is removed from that Danish website when it is included in a published EU legal act, a decision is made not to include it in such an act, or the UN removes it. While a name remains on the Danish authority website, every person or undertaking covered by the Act must freeze funds owned or held by that named person/group/entity without undue delay; the Act’s specific freeze duty ends when the name is removed. This does not establish completeness of any UN, EU or other current list.

Obligation

Without undue delay, freeze funds owned or held by a person, group or entity while its name is published on the designated Danish authority website. Removal ends this specific statutory freeze duty; it does not itself command release or displace another applicable freeze, including an EU act that takes over.

Prohibited action

Applies to

Firm types

All relevant persons

Business lines

All business lines

Customer types

All customer types

Stages

All stages

Conditions

Applies to undertakings and persons covered by the AML Act when a person, group or entity is named on the Danish authority website under subsection 1. The freeze covers funds owned or held and must occur without undue delay.

Exceptions

The specific statutory freeze duty ceases when the name is removed from the Danish authority website under subsection 2. This does not displace any other applicable sanctions obligation.