Denmark

Member since 1991

Since the 2017 assessment of Denmark’s measures to tackle money laundering and terrorist financing, and its 2018 and 2019 follow-up reports, the country has taken a number of actions to strengthen its framework.

Denmark has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2017. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since its last follow-up report, in November 2019.

Today, Denmark is compliant on 6 of the 40 Recommendations and largely compliant on 32 of them. It remains partially compliant on 2 Recommendations.

Denmark's progress in strengthening measures to tackle money laundering and terrorist financing

16 Feb 2021

This follow-up report analyses Denmark's progress in addressing the technical compliance deficiencies identified in its 2017 Mutual Evaluation and ensuing 2018 and 2019 Follow-Up Reports.
Read more 2019 Follow-up report 2018 Follow-up report

Head of delegation

Others Ministries/Authorities

Ministry of Justice

Denmark's official website 

 

Since the 2017 assessment of Denmark’s measures to tackle money laundering and terrorist financing, and its 2018 and 2019 follow-up reports, the country has taken a number of actions to strengthen its framework.

Denmark has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2017. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since its last follow-up report, in November 2019.

Today, Denmark is compliant on 6 of the 40 Recommendations and largely compliant on 32 of them. It remains partially compliant on 2 Recommendations.

Ratings

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Denmark Follow-Up Report - 2021

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
C
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
LC
R.10 - Customer due diligence
LC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
C
R.13 - Correspondent banking
PC
R.14 - Money or value transfer services
LC
R.15 - New technologies
PC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
LC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
LC
R.23 - DNFBPs: Other measures
LC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
LC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
C
R.35- Sanctions
LC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Denmark Mutual Evaluation 2017

IO1
ME
IO2
SE
IO3
LE
IO4
LE
IO5
ME
IO6
ME
IO7
ME
IO8
ME
IO9
SE
IO10
ME
IO11
SE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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