Denmark’s measures to combat money laundering and the financing of terrorism and proliferation

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August 7 2017

Denmark has the foundations for a sound regime to tackle money laundering and terrorist financing, but needs to improve the implementation of measures to mitigate the risks, including through better assessing those risks and enhancing national policy coordination.

The FATF conducted an assessment of Denmark’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations. This assessment covers the entire Kingdom of Denmark (hereafter Denmark), including Greenland and the Faroe Islands. This assessment reviews both the level of effectiveness of Denmark’s AML/CFT regime as well as its level of technical compliance with the FATF Recommendations.

Denmark does not have a national strategy to combat money laundering and terrorist financing and needs to do more to properly assess and understand the risks it is exposed to. The report also recommends that Denmark enacts an independent and modern money laundering offence that criminalises self-laundering.