Regulatory Alerts2024-09-17
Order on Reporting Information for the Danish Financial Supervisory Authority's Risk Assessment of Entities Subject to the Money Laundering Act
The Danish Financial Supervisory Authority mandates that entities subject to the Money Laundering Act report specific operational and risk data to support its risk assessments. The order establishes quarterly reporting deadlines for certain entities and annual deadlines for others, requiring detailed disclosures on customer bases, transaction volumes, and risk classifications. Failure to comply with these electronic reporting obligations is punishable by fines and potential corporate criminal liability.
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