Executive Order on the reporting of AML / CTF data

The Danish FSA wants to have effective, database-based and risk-based supervision in the money laundering area. Therefore, the Danish Financial Supervisory Authority needs a number of information about the companies’ characteristics and risks of being used for money laundering or terrorist financing. At the same time, the Danish Financial Supervisory Authority wants to gain insight into the companies’ measures to reduce risk.

Information from the companies is a very important basis for the Danish FSA’s risk assessment. The data from the companies and the analysis model in which they are included will thus strengthen the Danish FSA’s supervision in a number of areas:

• We get a more accurate risk assessment. 

• We get an overview of the risks in the individual industries and companies.

• We get a better basis for prioritizing supervision.

• We can document the basis of our priorities.

Therefore, the Danish Financial Supervisory Authority has issued an executive order on reporting information for use in the Danish Financial Supervisory Authority’s risk assessment of companies and persons covered by the Money Laundering Act .

At the same time, the Danish Financial Supervisory Authority has prepared a technical instruction that contains guidance for companies on what to report. Instructions with appendices can be found here:

• Technical instructions

• Product types

• List of jurisdictions

Link:

Finanstilsynet Notice

Categories: Anti-Money Laundering Finanstilsynet Updates

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