Denmark: Parliament Presents Proposal to Amend Money Laundering Act

On March 13, 2019, the Danish parliament published Proposal L 204 on a law amending the Act on preventive measures against money laundering and terrorist financing (Money Laundering Act) and the Financial Business Act, implementing parts of the 5th Anti-Money Laundering Directive (5th AMLD).

The aim of the amendments is to implement new measures that strengthen the existing preventive framework and combat more effectively money laundering and terrorist financing, while ensuring transparency in financial transactions to prevent the financial system from being abused by modern technology services.

The changes include:

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