The EU has, for very good reasons, intensified its efforts in the fight against money laundering and terrorism financing. As a result, the Danish Financial Supervisory Authority has been tasked with strengthening its actions. Financial institutions must have a much deeper understanding of their customers than before. This applies to ALL their customers—private individuals, associations, and businesses—both large and small. Part of this process involves asking for detailed information about your association and all individuals behind it.

It may seem like a lot, especially if you’re just a small association that has always operated quietly and without a lot of fuss. However, fraudsters behind both small and large scams do not only target large organizations or businesses when attempting to launder money or erase the traces of money heading toward a terrorism-related goal. They are very creative and cunning, and they can use even small associations, businesses, and individuals as part of their larger fraudulent schemes. So, just as "many small efforts can lead to big results," many small actions can also help fight these crimes.