The New Reality of Transparency
For years, the Nordic business registers have been a symbol of openness. However, we are facing a significant shift. As a result of the EU Court of Justice ruling and the 6th Anti-Money Laundering Directive (AMLD6), new regulations came into effect on September 1, 2025, removing public access to Ultimate Beneficial Owner (UBO) information.
We can explain these new rules with a simple metaphor: you are allowed to check a patient's medical records if you are there to help the patient. But you are NOT allowed to look up a patient's records simply because you are curious.
The same principle now applies to businesses.
For the modern B2B company, this is not just a legal detail; it is an operational challenge. Without access to ownership data, you lose the ability to see through complex corporate structures, identify potential money laundering risks, and assess who you are truly granting credit to. At Risika, our mission is to ensure that your growth is not slowed down by new regulatory walls.
Legislation: Why is data becoming "closed land"?
The purpose of the new regulations (L192) is to protect personal data. This means that ownership information is now shielded in the Central Business Register (CVR), making it available only to:
- Competent authorities (e.g., Special Crime Unit, Danish Tax Agency)
- Obligated entities (Banks, auditors, lawyers)
- Persons with legitimate interest (Individuals with a well-founded need to know who truly owns a company)
What defines a "Beneficial Owner"? It is still the individual(s) who ultimately own or control more than 25% of the capital or voting rights. But where this was previously just a click away, it now requires an active validation of your purpose.
The Challenge: When manual compliance kills efficiency
The new system from the Danish Business Authority is built on a trust-based solution involving MitID logins and "solemn declarations." However, for a medium or large enterprise with many daily customer checks, this creates three major pain points:
- Administrative burden: Each employee must manually log in and justify every single lookup. This takes time away from your core business.
- Documentation requirements: You must be able to prove your "legitimate interest" to the authorities during risk-based audits.
- Fragmentation: Regulations are implemented differently across Denmark, Sweden, Norway, and Finland. Navigating four different national processes is a complexity few have the resources to manage.
The Solution: Risika as your central compliance hub
Risika was born out of a desire to challenge the old, cumbersome credit bureaus. We have built a solution that automates access to beneficial owners across Nordic borders, allowing you to focus on trading with the right customers.
Access via Legitimate Interest
We help you identify which category your business falls under. For most of our customers, this will be the category "Companies considering transactions." By using Risika as your third-party data provider, we ensure:
- Seamless validation: You state your legitimate interest directly within the platform.
- Logging and Audit-trails: We store the documentation for your lookups, so you are always ready for an audit.
- API & Platform: Whether you use our web platform (Risika Platform) or integrate data directly into your ERP/CRM via our API (Risika Data), ownership information flows undisturbed into your workflow.
Security First: GDPR and Responsibility
The new regulations bring increased responsibility. Unauthorised disclosure of ownership information can result in fines. When you use Risika, you minimize the risk of human error. We ensure that only the right users see the right data and that all processes comply with the strictest requirements of the ownership registration executive order.
Our system is designed to give you the full picture—from financial KPIs to complex ownership structures—without you having to spend hours on manual case handling with national authorities.
Turn compliance into a competitive advantage
The right risk is not a gamble—it’s a strategy. By automating your UBO checks, you remove administrative friction between Sales and Finance. While your competitors struggle with manual lookups and login keys, you can onboard customers faster and with greater security.
As your dedicated Nordic partner, we ensure that you never operate in the dark, regardless of how complex the regulatory landscape becomes.