Why is uploading identification required?
The EU has tightened regulations in the fight against money laundering and terrorist financing. This means that both the Danish Financial Supervisory Authority and the Danish Data Protection Agency now enforce stricter requirements, which also apply to financial institutions. All financial institutions must now know their customers much better than before – whether private individuals, associations, or businesses, large or small.
Part of these requirements is that they must collect information about both your association and the individuals behind it.
What does this mean for you?
We understand that this can feel overwhelming – especially if you're running a smaller association that has always operated smoothly without much bureaucracy. But criminals trying to hide money flows don't just target large organizations. Small associations and companies can also be exploited as part of larger fraud schemes – often without even knowing it.
That’s why it’s important for everyone to help prevent financial crime. The more people comply with the rules, the harder it becomes for those who try to abuse the system.