Denmark : Financial Sector Assessment Program-Technical Note-Next Steps for Cross-border AML/CFT Supervision.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2020/255

IMF Staff Country Reports

Language:

English

Subjects (All):

Risk assessment.

Physical Description:

1 online resource (16 pages)

Other Title:

Denmark

Place of Publication:

Washington, D.C. : International Monetary Fund, 2020.

Summary:

The Danish authorities’ efforts to strengthen cross-border anti-money laundering and combating the financing of terrorism (AML/CFT) supervision continue to gather momentum. Since the Fund’s publication of a Selected Issues Paper on this subject in June 20192, the Danish authorities have made significant progress, including by conducting or participating in three multinational on-site inspections of banks; developing a new institutional risk assessment model; issuing an AML/CFT on-site inspection manual; and, via Act No. 1563 (2019), amending several pieces of legislation so as to bolster the monitoring and enforcement powers of the Danish Financial Supervisory Authority (DFSA), establish additional reporting requirements for the private sector, and stiffen the penalties for violations of AML/CFT obligations.

Contents:

Front Matter

Denmark: Financial Sector Assessment Program Technical Note-Next Steps for Cross-border AML/CFT Supervision.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781513553832

1513553836