Here is the converted article in markdown format:

Denmark’s Beneficial Ownership Requirements Undergo Transparency Reforms, Experts Say

As part of its efforts to enhance transparency and combat money laundering, Denmark has made significant strides in implementing beneficial ownership requirements. According to recent updates, Open Ownership has mapped data from the Danish Central Business Register to the Beneficial Ownership Data Standard, making it easily accessible for anyone to reuse and analyze.

Importance of Beneficial Ownership Transparency

Denmark’s commitment to beneficial ownership transparency is a crucial step towards ensuring financial integrity. The country has implemented one or more beneficial ownership registers, earning it a spot on the “Live register” list. This designation indicates that Denmark has launched its beneficial ownership registry, allowing for public access to vital information.

Data Sources and Accuracy

The data used in Open Ownership’s map is sourced from publicly available records and may not be comprehensive for all countries. However, Denmark’s commitment to transparency is evident through its participation in various initiatives.

History of Commitment

Denmark was initially obligated to create a central, public register of beneficial ownership as part of the EU’s fifth Anti-Money Laundering Directive. Although this requirement has since been relaxed, allowing member states to provide access only to those with a legitimate interest, Denmark remains committed to maintaining a beneficial ownership registry.

Recent Developments

At the 2023 Summit for Democracy, Denmark reaffirmed its commitment to effective implementation of beneficial ownership transparency measures and the maintenance of an alternative mechanism. This development underscores the country’s dedication to ensuring financial transparency and combating illicit activities.

Getting Involved

For more information on Denmark’s beneficial ownership requirements or to provide feedback on data accuracy, readers are encouraged to visit Open Ownership’s website.