Summary
This document is a guide on the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Denmark. It outlines the legal framework established by the Money Laundering Act, which came into effect on June 8, 2017, and was last amended on May 7, 2019. The guide details the obligations of both legal and natural persons in preventing money laundering and terrorist financing, including customer identification and verification processes. It specifies the necessary due diligence requirements, identity verification methods, and the documents required for verification. Additionally, the document discusses the importance of Enhanced Due Diligence (EDD) measures for Politically Exposed Persons (PEPs) and the reliance on external services for due diligence. It emphasizes that compliance with these regulations is the responsibility of the client and outlines the record retention requirements for AML and KYC obligations. The guide serves as a reference for organizations to ensure adherence to Denmark's regulatory standards.
