Denmark’s Anti-Corruption Measures in Finance: A Comprehensive Overview

As a member of the OECD Anti-Bribery Convention, Denmark has committed to preventing bribery and promoting good governance. In this article, we will provide an overview of Denmark’s anti-corruption measures in finance.

Penal Code and Liability

• Denmark’s penal code prohibits active and passive bribery, as well as bribery of public officials.
• Companies can be held liable for corruption under criminal law, with penalties including fines and imprisonment.
• However, companies cannot be held liable for acts of corruption under civil or administrative law. Instead, individuals are responsible for their actions and can face criminal charges if found guilty of bribery.

Facilitation Payments and Gift-Giving

• Facilitation payments are prohibited in Denmark.
• There is no legal regulation on accepting or giving gifts, invitations, etc. However, the public sector has established a code of conduct that prohibits public officials from receiving gifts or benefits unless specifically exempted.

Preventing Corruption by Foreign Government Officials

• The Danish government has taken steps to prevent corruption by foreign government officials.
• Bribery of such officials is considered a crime subject to Danish jurisdiction.

Asset Confiscation and Liability for Intermediaries

• Denmark allows for the seizure of assets gained as a result of criminal activity.
• Companies can be held liable for the acts of their intermediaries or third parties.

Internal Programs and Compliance

• While there are no specific guidelines on implementing anti-corruption internal programs, certain industries such as investment services and credit institutions are subject to special rules.
• Private entities receiving government funding must adhere to specific standards.
• The cooperation with authorities or an internal investigation can also be a mitigating factor in determining sanctions.

Recognition of Compliance Programs

• Denmark has recognized the importance of having a compliance program in place, which can lead to reduced sentences for companies found guilty of corruption.

Additional Resources

For more information on Denmark’s anti-corruption measures and guidelines, refer to the Ministry of Finance’s Code of Conduct in the Public Sector.

Source: Bech-Bruun Law Firm, Poul Gade, pga@bechbruun.com