FATF: DENMARK AML/CFT THIRD FOLLOW-UP REPORT

On 16 February, FATF published a follow-up report on Denmark, assessing developments on technical compliance since the 2017 mutual evaluation report, and subsequent follow-up reports in 2018 and 2019.  FATF has agreed to rerating on 5 FATF Recommendations –

Recommendation 6 – Targeted financial sanctions – terrorism & terrorist financing, from partially compliant to largely compliant;
Recommendation 7 – Targeted financial sanctions – proliferation, from partially compliant to largely compliant;
Recommendation 8 – Non-profit organisations, from partially compliant to largely compliant;
Recommendation 25 – Transparency & Beneficial ownership of legal arrangements, from partially compliant to largely compliant; and
Recommendation 26 – Regulation and supervision of financial institutions, from partially compliant to largely compliant.

FATF Recommendation 15 (New technologies), which changed since their 2019 progress report, has seen its rating downgraded to partially compliant, as moderate deficiencies remain.  It is said that Denmark is compliant on 6 of the 40 FATF Recommendations and largely compliant on 32, and it remains partially compliant on 2 Recommendations.  Denmark will continue to report back to FATF on its progress.

https://www.fatf-gafi.org/media/fatf/documents/reports/fur/Follow-Up-Report-Denmark-2021.pdf

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s