Rules regarding money laundering
Procedures for Moltke-Leth Advokater A/S in accordance with § 8 of the Danish Act on preventive measures against money laundering and financing of terrorism (Act against money laundering)
1. Applicable provisions
Executive order about the Danish Act on preventive measures against money laundering and financing of terrorism, no. 380, dating 2 April 2020, hereinafter referred to as the Danish “Act against money laundering and financing of terrorism”. Based on the jurisdiction, three executive orders have been issued, of which one is of importance for the profession of lawyers:
Executive order no. 1358, dating 30 November 2017 stating the natural persons and legal entities and products that may be exempt from the Danish Act on preventive measures against laundering of financial profits and financing of terrorism as well as the definition of politically exposed persons.
On www.advokatsamfundet.dk, the Danish Bar and Law Society has published information for lawyers regarding the Danish Act against money laundering.
The lawyers Henrik Holmblad and Vibeke Samuelsen are responsible for the development and update of this procedure.
The purpose of the Danish Act against money laundering is to prevent money laundering and financing of terrorism. In this connection, it means that persons or companies, which either desire to perform money laundering or to finance terrorism know that the persons and companies falling under the Danish Act against money laundering are subject to an obligation to inform in the case of suspicions, which cannot be disproved.
The obligations resulting from the Danish Act against money laundering can be summarised as follows:
- The lawyer must perform client knowledge procedures, i.e. the lawyer must know the identity of his client and store ID information for 5 years following the termination of the business relationship. The ID information must be verified, e. g. by presenting a passport, for more details see point 5 below.
- If it is suspected that the client’s request is or has been connected to money laundering or terror financing, the matter must be examined in more detail.
- If the suspicion cannot be disproved and the matter does not fall under § 27 of the Danish Act against money laundering, information must be submitted to the Danish Bar and Law Society or the Danish State Prosecutor for Serious Economic and International Crimes (Statsadvokaten for Særlig Økonomisk og International Kriminalitet (SØIK).
- The lawyer is obliged to identify and evaluate the risk that the company or person may be misused for money laundering or terror financing.
- The lawyer is obliged to determine written policies, procedures and internal assessments for risk control, client knowledge procedures, examination, notation and information procedures, storage of information, screening of employees and internal assessments for efficient prevention, limitation and control of risks for money laundering and financing of terrorism.
- The lawyer is obliged to ensure that the employees and board of directors have been trained sufficiently.
Apart from the obligations set out by the Danish Act against money laundering, lawyers must be aware of national and international financial sanctions against countries, persons, groups, legal entities or bodies, see the sanction lists of the Danish Foreign Ministry and the Danish Business Authority.
The following regulations aim to determine Moltke-Leth Advokater A/S’s procedures for the handling of matters falling under the Danish Act against money laundering and to ensure that measures are taken to limit the risk for the lawyer being misused for money laundering or terror financing based on the risk factors listed in the risk evaluation.
3. Matters subject to the Danish Act against money laundering
Lawyers are subject to the Danish Act against money laundering in the following cases, see § 1, para. 1, no. 14 of the Danish Act against money laundering:
- when they provide assistance in the case of consulting about or execution of transactions for their clients in connection with
- purchase or sale of real estate or companies,
- management of clients’ money, securities or other assets,
- opening or managing of bank accounts or security portfolios,
- securing of necessary capital for the founding, operation or management of companies or
- founding, operation or management of companies, funds, etc., or
- when they perform a financial transaction or a transaction in connection with real estate in the name of a client and for the client’s account.”
It is not possible to create a list of matters falling under the Danish Act against money laundering. In general, the following case types will however be included:
Consulting, including the development of documents, concerning:
- Purchase/sale of real estate/companies
- Corporate consulting connected with transactions, e.g. founding of companies, capital increase or transfer of stocks/shares, etc.
- Discretionary management of accounts, etc.
Matters, in which the lawyer performs a financial transaction or a real estate transaction in the name of the client, see § 1, para. 1, no. 14 of the Danish Act against money laundering.
Below please find a negative distinction vis-à-vis § 1, para. 1., no. 14 of the Danish Act against money laundering:
Consulting for consumers
In the case of consulting for consumers, lawyers are not subject to the Danish Act against money laundering, unless the consulting is connected with assistance referring to the planning or execution of a transaction falling under § 1, para. 1, no. 14 of the Danish Act against money laundering.
The administration of a deceased person’s estate, management of bankruptcy assets, reconstruction and guardianship are included to the extent that dispositions are made and stated under § 1, para. 1, no. 14 of the Danish Act against money laundering. The distribution of real estate to a spouse in connection with the division of the joint estate of spouses or to an heir in case of the management of a deceased person’s estate does not constitute the purchase or sale of real estate; however, the sale to a third party falls under § 1, para. 1, no. 14, letter a, Roman letter i of the Danish Act against money laundering.
Legal cases, etc.:
Civil and criminal procedures, collection procedures, arbitration procedures, mediation, consulting about the acceptance of voluntary settlements do not fall under the Danish Act against money laundering.
Real estate administration
The general administration of real estate performed by the lawyer does not fall under the Danish Act against money laundering.
Consulting for business clients
The legal consulting for business clients does not fall under the Danish Act against money laundering, unless the consulting is connected with assistance referring to the planning or execution of a transaction in connection with § 1, para. 1, no. 14 of the Danish Act against money laundering.
4. Definition of money laundering and financing of terrorism
According to § 3 of the Danish Act against money laundering, money laundering refers to:
- unjustified acceptance or acquisition of parts of financial profits for oneself or others, where the profits have been gained by a legal offence,
- unjustified covering, storage, transport, assistance with the transfer or other means to safeguard the financial profit from a legal offence or
- assistance with or participation in such dispositions.
According to § 4 of the Danish Act against money laundering, the financing of terrorism is understood as financing of terrorism as defined by § 114b of the Danish Penal Law as far as activities falling under § 114 go. Financing of terrorism may be performed on the basis of legally obtained means.
5. Customer knowledge procedures – identification and assessment
In cases falling under the Danish Act against money laundering, there is an imperative requirement to identify the client, i.e. the lawyer must be in possession of the client’s name and CPR no. or equivalent, if the client does not have a CPR no. or a CVR no. or equivalent, if the client does not have a CVR no. (reference data). If a natural person does not have a CPR no., the identification data must include the date of birth.
In general, photo legitimation must always be obtained.
The client knowledge requirements must always be performed, but the extent of the procedures can by based on a risk evaluation. The evaluation must include information about the purpose, extent, regularity and duration of the business connection. The evaluation must at least include the factors given in appendices 2 and 3 of the Danish Act against money laundering. In the case of monitoring, it must be proved to the Danish Bar and Law Society that the knowledge about the client is sufficient compared to the risk of money laundering and financing of terrorism.
The client relationship must be monitored permanently. Hence, it is not sufficient to obtain identification data about the client, when establishing the client relationship.
If relevant, information about the client’s purpose for the business connection and the planned nature must be obtained.
Furthermore, the client’s identity must be examined prior to establishing the client relationship, unless it is necessary in order not to interrupt the usual business and there is a limited risk for money laundering or financing of terrorism, subsequent to which the examination of the client’s identity can be performed when establishing the client relationship.
The execution of the preliminary client knowledge procedure must include a determination of the client’s risk profile and a risk evaluation of the applicable client relationship.
If the client is a natural person, the identification data must be obtained, i.e. name and CPR no. (reference data). An examination procedure must be performed where the identification data must be examined by means of a source other than the client.
The examination can by performed by presenting a passport or driver’s licence (identification data) or a different independent and reliable source.
It must be assessed specifically, how much documentation, data or information must be available in order to ensure a sufficient assessment of the client’s identification data. In a specific situation, there may be no doubt whatsoever that the client is the person, he or she claims to be. A personal appearance is not a requirement for the assessment. If a personal appearance is not the case, a complete risk evaluation of the risk factors in the client relationship may result in a demand for stricter client knowledge procedures, see appendix 3 of the Danish Act against money laundering.
Client knowledge procedures may be performed with the assistance of a third party. For more detail, see point 9.
The identification data must be noted and examined by copying and scanning the information about the case.
For more detail about distance clients, see point 7.
If the client is a legal entity/company, identification data must be obtained, i.e. name and CVR no. (reference data).
For companies in Denmark, including stock companies and private limited companies, trading funds, partnerships, sole traders, the examination may consist of activities such as perusing the Danish Business Register, printouts from the Danish Tax Authority including identification data, e.g. annual financial reports, as well as a copy of the founding document and company statutes or a company résumé by the Danish Business Authority.
The proprietor and management structure of the company must be determined and the actual proprietor(s) must be identified. Therefore, a diagram must be developed, showing the company’s owner(s) and management structure. Where information about the proprietor and management structure cannot be obtained by means of public registers, the information may be obtained with the assistance of the client or agencies, which offer company data.
The actual owners of the company, i.e. persons, who ultimately own more than 25 % of the capital and/or voting rights in the corporate client must be identified and verified in accordance with the procedure that applies for natural persons, see above.
The actual owners must always be identified. If it is not possible to identify a person, who owns more than 25 % of the company, or if it is doubtful whether the identified person(s) is or are the actual owner(s), the day-to-day management must be identified.
The “day-to-day management” is defined as persons responsible for the daily management of a legal entity, including responsibility for the operation, sales and other results. In a capital company, the day-to-day management consists of the registered members of the executive board, where the board of directors is responsible for the strategic and overall management and the executive board is responsible for the daily management, and in a company with a supervisory body and an executive board, the executive board performs the daily and the strategic management.
The identification data must be noted and examined by scanning the information about the case.
If one of the corporate lawyers functions as the reconstructor, trustee, estate trustee or custodian, for example, the client is the probate court or the public administration. In such cases, the client knowledge procedure must be performed vis-à-vis the applicable client. If heirs in the case of a distribution of the inheritance request assistance with the estate and if real estate is sold as an example, a client knowledge procedure must be performed vis-à-vis the heirs, as these are deemed to be the actual owners.
If the client is a public enterprise or a partnership, solely owned by public authorities, the general client knowledge procedure must be performed.
The identification data must be noted and examined by scanning the information about the case.
6. Authorisation relationship
It must be determined whether the client acts in his own name or in another person’s name. If an assignment comes into being because the manager of a company submits a request in the name of the company, this is deemed an authorisation relationship, see § 11, para. 2. of the Danish Act against money laundering.
If it is determined that the client acts in the name of a different person or company, the actual client must be identified and that client’s identity must be examined in line with the procedure set out under point 5.
If a person states that he or she acts in the name of other persons or if it is doubtful that the applicable person acts in his or her own name, the person must be identified and the person’s identity must be examined by means of an independent and reliable source. It must also be ensured that the natural person or legal entity is authorised to act in the name of the client. Lawyers and EU lawyers are exempt from the obligation to document their authorisation to act in the name of others.
It must be ensured that the authorised person is authorised to submit requests in the name of the actual client. This may, for instance, happen by presenting a letter of authorisation, an evaluation about whether the relevant person acts in line with the position authorisation and in cases, where signatory regulations must be considered, that these have been met.
The documentation of the authorisation relationship as well as the executed client knowledge procedures for the case must be stored for five years following the termination of the case.
7. Stricter client knowledge procedure
If a client or the background for a client’s request as such results in an increased risk for money laundering and terror financing, a stricter client knowledge procedure must be carried out based on a risk evaluation, see § 17. Appendix 3 of the law states that the following factors and types of documentation characterise situations that may carry an increased risk:
- Client risk factors:
- The business relationship exists under unusual circumstances.
- Legal entities or legal arrangements that are personal asset management companies.
- Companies with nominee shareholders or bearer shares.
- Contact based companies.
- The owner structure of the company seems unusual or too complex compared with the business activities of the company.
- Risk factors in connection with products, services, transactions or delivery channels:
- Private banking.
- Products or transactions that may promote anonymity.
- Business connections or transactions without direct contact and without safeguards such as electronic signatures.
- Payments from unknown or non-associated third parties.
- New products and new business procedures including new delivery mechanisms and use of new technologies or technologies under development both for new and existing products.
- Geographical risk factors:
- Countries that have been identified as countries without effective regulations for combating money laundering and financing of terrorism by reliable sources , e. g. mutual evaluations, reports on detailed evaluation or published tracking reports, see however § 17, para. 2.
- Countries that have been identified as countries with a substantial extent of corruption or other criminal activities by reliable sources.
- Countries that are subject to sanctions, embargoes or similar arrangements, determined by the EU or the UN, for instance.
- Countries that finance or support terrorist activities or that provide shelter for known terror organisations.
- 17, para. 2 of the Danish Act against money laundering states that stricter client knowledge procedures must be performed if the client is located in a country mentioned in the European Commission’s list for countries that are evaluated as having a higher risk for money laundering or financing of terrorism.
If the client was not personally present when the client relationship was established, this is referred to as a distance relationship. In such relationships the sending of identification data is not as secure as in a personal appearance. In order to secure the client’s identity, the lawyer may use Facetime, Skype or equivalent programs where the client shows identification data while he or she can be seen by the case managers in the Law Firm at the same time. It must be possible to document the examination activity and therefore a screen printout or similar must be carried out. The use of a digital signature, for instance (NemId) can replace the identification data for distance clients following a specific evaluation.
Other independent and reliable sources may consist of private providers of such information, digital signatures, phone books and verification of documents by an independent and reliable third party. The examination may be carried out by means of documents, data or information.
Politically exposed persons
If the client is a politically exposed person, a family member or close cooperation partner of such a person, a stricter monitoring of the client is necessary.
A politically exposed person is defined as a person, who has or has had a higher public position, direct family members of such persons or persons known as their close cooperation partners.
Politically exposed persons, their family and close cooperation partners are defined under § 2, para. 1, no. 6, 7 and 8.
Politically exposed person in line with no. 8:
Natural person, who has or has had one of the following public positions
- President, prime minister, minister and vice minister or assistant minister.
- Member of parliament or member of equivalent legislative bodies.
- Member of the governing body of a political party.
- Judge at the supreme court, member of constitutional courts and other higher legal institutions, whose decisions are only subjected to more extensive scrutiny under extraordinary circumstances.
- Member of final appellate courts and highest management bodies for central banks.
- Ambassador, chargé d᾽affaires and senior officer in the military forces.
- Member of the administrative, managing or monitoring body of a state-owned company.
- Manager, deputy manager and member of the board of directors or person with an equivalent position in an international organisation.
Family member of a politically exposed person in line with no. 6:
A politically exposed person’s spouse, registered partner, live-in partner, parents as well as children and their spouses, registered partners or live-in partners.
Close cooperation partner of a politically exposed person in line with no. 7:
- A natural person, who is the actual owner of a company or another type of legal entity jointly with one or several politically exposed persons.
- A natural person, which has a close business relationship with one or several politically exposed persons, however differing from the persons listed under letter a.
- A natural person, which is the sole actual owner of a company or another type of legal entity, which is known to have been founded for the benefit of a politically exposed person.
The establishment of a client assignment with a politically exposed person may only take place if approved by the responsible partner. The responsible partner must also approve the continued client relationship with a politically exposed person.
In case of an assignment with a politically exposed person, appropriate measures must be taken to obtain information about profit and income sources falling under the assignment/case and the business connection must be monitored continuously. The data must be noted and stored with the case as part of the continuous monitoring of the client, see § 11, para. 1, no. 5.
The identification data must be noted and examined by scanning the information about the case.
8. Risk-based client knowledge procedure
As a result of § 11, para. 3 of the Danish Act against money laundering, all requirements to client knowledge as listed under para. 1 and 2 must be met, but the extent of the client knowledge procedure may be carried out based on a risk evaluation, which must include information about the purpose, extent, regularity and duration of the business connection. The factors given in appendices 2 and 3 of the Danish Act against money laundering must be included as a minimum.
Solely the extent of the client knowledge procedure may be carried out on a risk basis. The requirements about which identification data to obtain cannot be waived. Accordingly, the reference data, i.e. name, CPR no. or CVR no. including those of the actual owners, must always be available for cases falling under the Danish Act against money laundering.
The requirement to determine the ownership and management structure of the company, see § 11, para. 1. no. 3 of the Danish Act against money laundering cannot be executed on a risk basis, and hence, it must be monitored continuously whether changes have occurred in the group of owners and accordingly, who is the actual owner.
Apart from the above cases, the client knowledge procedure cannot be performed on a risk basis.
9. Assistance by third parties
Client knowledge procedure
According to § 11, the lawyer is obliged to carry out the client knowledge procedure himself, even if, according to § 1 of the Danish Act against money laundering, others such as banks, auditors, etc. have carried out or shall carry out the same client knowledge procedure for the same persons or companies as part of the same transaction.
In a real estate transaction, the bank, real estate agent and the corrective lawyer fall under the Danish Act against money laundering and are obliged to carry out a client knowledge procedure.
The deciding factor is that the person or company to perform the client knowledge procedure instead of the lawyer falls under § 1 of the Danish Act against money laundering. The lawyer is responsible for obtaining sufficient information about the other party carrying out the client knowledge procedure and for storing the information as prescribed by the law. The information must be accessible instantly and presentable upon request by the Danish Bar and Law Society, SØIK or other relevant authorities.
- Monitoring of the client relationship and update of the client information
The client relationship must be monitored permanently and it must be ensured that the transactions, which the lawyer assists with are compliant with the lawyer’s knowledge about the client and the client’s business and risk profile including the origin of the means. Documents, data and information about the client must be updated continuously.
If circumstances are found, which may be connected with money laundering or terrorism during the case management, this must be noted and stored for at least 5 years, see § 30, para. 1, see para. 2 of the Danish Act against money laundering.
It must be secured on an on-going basis that the identification data obtained is current. In the case of companies, it is of special importance to clarify possible changes in the ownership and management structure of the company.
- Examination and notation obligation.
The employees with direct client contact are obliged to ensure that the corporate client data is current, and they must obtain missing information and update outdated information, if any.
The information must be scanned and stored with the case in line with the below requirements. Relevant circumstances and information for the obligation to combat money laundering must be noted continuously.
- Storage and deletion of identification data
The identification data and examination information must be stored for at least 5 years upon termination of the client relationship. Examination information refers to notes or copies of public documents, etc. regarding the client, including the documents presented by the client. If, for instance, the client presented a passport, driver’s licence or health insurance, a scanned copy of these must be stored with the case.
Notes, group diagrams and other registrations regarding a case falling under the Danish Act against money laundering must likewise be stored for 5 years upon termination of the client relationship.
Moltke-Leth Advokater A/S has decided the following regarding storage:
Identification data will be stored with the digital case. The data will be deleted 5 years after termination of the client relationship.
In case of a non-current client relationship, the identification data, the copy of the identification documents, notes, etc. must be removed from the physical case and be destroyed prior to archiving the case. The personal information must be scanned and stored with the digitalised case for 5 years upon archiving and is then deleted.
For current client relationships, the identification data, notes, etc. for a case, which has been established especially for this purpose, are stored. The notes must contain references to the relevant case numbers and cases that have resulted in their development.
Identification data and other information obtained as a result of the provisions in the Danish Act against money laundering are removed from the physical case in connection with archiving and are deleted from digitalised cases 5 years upon termination of the case.
- Measures resulting from the provisions of the European Parliament and European Council, etc.
Moltke-Leth Advokater A/S does not assist with payment mediation as a separate service, and does therefore not determine special procedures for payments, see § 39, para. 1 of the Danish law against money laundering about compliance with the provisions of the European Parliament and European Council about information to be submitted about the payer in the case of money transfers.
The lawyer must assist with blocking of means belonging to persons, groups and countries subjected to international financial sanctions (war against terrorism and sanctions against third party countries), if the lawyer comes into possession of such means. Accordingly, the Law Firm must ensure that means are not transferred between entities, which are mentioned in the EU’s lists of persons, etc. which are subjected to financial sanctions.
If the Law Firm participates in a transaction, the Law Firm must assess – based on a risk evaluation – whether involved parties are found in the EU lists. The database of the Danish Business Authority are used for this purpose https://eksportkontrol.erhvervsstyrelsen.dk/eus-database-over-sanktioner.
The result of the search must be noted and stored with the case for 5 years. If the person, etc. is found in the list, SØIK must be informed for a detailed clarification of the obligation by the Law Firm to block the means.
- Training and screening of employees
In connection with new hiring and as a regular measure henceforth Moltke-Leth Advokater A/S must ensure that the staff is familiar with the obligations resulting from the Danish Act against money laundering and these internal provisions. The obligation applies to all employees involved in handling the case, including but not limited to lawyers, paralegals, secretaries, assisting students and bookkeeping.
These internal provisions must be added to the employment contract and the employee must confirm the reception by signature.
In case of new hiring, the employee is invited to a meeting, where these internal provisions are discussed.
At least once per year, an internal training course is carried out, where the staff is trained in handling cases falling under the Danish Act against money laundering. Simultaneously, the responsible partner, see point 1, must ensure that these internal provisions are updated.
In the case of new hiring and as a regular measure henceforth, Moltke-Leth Advokater A/S carries out screening of employees, which are to handle or are handling cases falling under the Danish Act against money laundering. This means that all relevant persons and employees must submit a police clearance certificate to the responsible partner upon request.
If the employee has been punished for a matter with impact on the relevant person’s handling of cases falling under the Danish Act against money laundering, this may have an influence on the future employment, including termination of the contract following a specific evaluation.
- Complex and extraordinarily large transactions
In the case of complex or extraordinarily large transactions, the lawyer must especially consider if the client’s activities may be connected with money laundering or financing of terrorism. In such cases, the responsible partner must be informed immediately.
Moltke-Leth Advokater A/S must assess the basis and purpose of complex and extraordinarily large transactions simultaneously with all extraordinary transaction patterns and activities without a direct and obvious business and legal purpose to determine, whether it can be reasonably assumed that the applicable transactions or activities are connected with money laundering or financing of terrorism.
If suspicions are raised in connection with the case management, the responsible partner must be involved and the responsible partner then accepts the responsibility for additional examinations and determines whether information is to be forwarded to the Danish Money Laundering Secretariat.
- Notification and notification obligation vis-à-vis the client
According to § 26 of the Danish Act against money laundering, the Danish Money Laundering Secretariat must be informed immediately, if Moltke-Leth Advokater A/S gains knowledge of or assumes that a transaction, means or an activity is connected with money laundering or financing of terrorism.
If possible, the transaction must be suspended until the Danish Bar and Law Society/Money Laundering Secretariat has been informed, and if the Danish Bar and Law Society has been informed, either until the Danish Bar and Law Society has forwarded the information to the Money Laundering Secretariat or has notified the Law Firm that the information is not forwarded following a specific assessment.
In cases, where it does not seem possible to waive the execution of the transaction or such a waiver may hinder the research, Moltke-Leth Advokater A/S must inform the Danish Bar and Law Society or the Danish Money Laundering Secretariat immediately after the transaction has been executed. The client or connected persons must not be informed about the notification.
Exemptions from the notification obligation
According to § 27 of the Danish Act against money laundering, lawyers are not obliged to submit a notification, regardless of the above suspicion, if the information has been received while the lawyer
- determines the client’s legal position,
- defends the client in a criminal case,
- represents the client in a civil legal case or
- consults with the client about initiating or preventing proceedings.
This applies regardless of whether the information has been received before, during or after the legal case or in connection with determining the legal position of the relevant client.
The term “determines the client’s legal position” refers to consulting about the applicable jurisdiction in a given area, see the information by the Danish Bar and Law Society, point 11.1.1., i.e. legal consulting. This means that lawyers – as long as the assistance refers to legal consulting for the client – fall under § 27 of the Danish Act against money laundering with the result that there is no notification obligation from a practical point of view.
If the notification obligation does not apply, it must be determined whether the lawyer must resign from the case.
- Notification obligation vis-à-vis the client
As stated above, Moltke-Leth Advokater A/S may not inform the client about the fact that the Danish Money Laundering Secretariat has been notified. Clients with cases falling under the Danish Act against money laundering must, however, during the establishment of the client relationship receive general information about the obligation of the Law Firm to notify the Danish Money Laundering Secretariat, if the Law Firm gains knowledge of, suspects or reasonably assumes that a transaction, means or an activity is or has been connected with money laundering or financing of terrorism.
- Confidentiality and secrecy
Forwarding of information in good faith to the Danish Bar and Law Society or the Danish Money Laundering Secretariat is not deemed as a violation of the responsible partner’s confidentiality and Moltke-Leth Advokater A/S or its employees are not held liable for the forwarding of information. In case of doubt and as described earlier under point 16, the submission must be generalised if possible and without submitting information about the client’s identity, since a notification in cases without a notification obligation may be a confidentiality violation.
All employees are obliged to keep silent about notifications submitted or started examinations in line with the Danish Act against money laundering.
Moltke-Leth Advokater A/S will once every quarter of the year carry out sample monitoring of employees handling cases, which fall under the Danish Act against money laundering and will once a year review the rules against money laundering with the employees in a seminar to ensure that the present procedure as well as the provisions of the Danish Act against money laundering are met.
- Whistle-blower system
According to § 35 of the Danish Act against money laundering, Moltke-Leth Advokater A/S is obliged to create and maintain a whistle-blower system in which the employees can report violations or potential violations of the Danish Act against money laundering via a special, independent channel. Reporting is carried out anonymously.
If the employees obtain information about or suspect violations of the Danish Act against money laundering in Moltke-Leth Advokater A/S, they may contact the auditor of Moltke-Leth Advokater A/S, Christensen Kjærulff, Store Kongensgade 68, 1264 Copenhagen K, anonymously, who then will contact attorney Vibeke Samuelsen in regards to how to proceed with the matter at hand.
The violation of the provisions of the Danish Act against money laundering is penalised with a fine. In the case of especially severe or comprehensive deliberate violations, the penalty may be increased to up to 6 months prison.
Contribution to money laundering or financing of terrorism is evaluated and penalised in accordance with the Danish Penal Law.
Furthermore, the lawyer may be put before the Danish Disciplinary Board of Lawyers for a violation of the rules of professional conduct.
Apart from the consequences arising from the general provisions of the jurisdiction and the rules of professional conduct, a violation of the procedures set out in this appendix may be deemed as a substantial violation of the employment relationship.
- Responsible partner
Questions regarding a specific transaction must be submitted to the responsible partner.
Notifications regarding a specific case can be submitted to:
The Danish Money Laundering Secretariat or the Danish Bar and Law Society.