Regulations money laundering

In June 2017, new regulations on money laundering became effective. The restraints put increased demands on our knowledge of our members and their financial circumstances.

Consequently, we have increased focus on payment of large single contributions and cash payments (cash compensation for withdrawal), and we are generally more observant of patterns of atypical behavior. We do this to ensure, that DIP is not misused for money laundering or terrorist financing.

The increased control requirements apply specifically to the following members:

  • Members residing in Greenland.

  • Members residing on the Faroe Islands.

  • Members residing abroad.

  • Members with an employer paid scheme which is not part of a collective agreement.

  • Members who handle their payments themselves.

  • Spouses of deceased members residing abroad.

  • Children of deceased members residing abroad.

  • Politically exposed persons.

It applies to these members that we must ask more questions in relation to payments made and received. We might need picture ID or other kinds of documentation.

Some of our members are subject to the definition politically exposed persons. If we consider you being a politically exposed person, it will imply increased identification/documentation to ensure legislative compliance.