So, you’re running an awesome company and want to expand to the UK. Makes sense, it’s still the financial hub of Europe despite Brexit and all that. So, you set things up: A UK Limited company, tax registration, payroll, an office and all other things… Read More »UK de-risking – The impact on legitimate business
Don’t let anyone tell you otherwise. As a founder you must run your business while spending most of your time talking with investors. In our case we are fortunate to have five founders and an extremely skilled team that knows what to do, when to… Read More »Raising capital is pretty intense
Using Risk Assessment Pro to help a small Bank improve their risk-based approach Introduction JAK Medlemsbank, a small Swedish member’s bank with a targeted product offering took the decision in 2020 to embark on a program to improve and enhance their financial crime processes and… Read More »Case Study – JAK Members Bank
Let’s start with the summary: The 6th EU Anti-Money Laundering Directive poses a potential threat towards EU’s fight against money laundering, terrorist financing and sanction violations. Worrying? Yes. Surprising? Not really. I’ll elaborate more on that below, but let’s start by explaining what a national… Read More »The rise and fall of the national risk assessment
North Korea. Iran. Myanmar. Because it’s easy – Just take the FATF grey list, the EU high-risk third countries and top up with Transparency International’s Corruption Perception Index and we’re home free. Right? Turns out, it’s not that simple. At all. And here is why: … Read More »We all know our high-risk countries, don’t we?
Imagine that you are in a vast forest. It’s getting darker and you have no idea how to find your way back home. Without a map you’ll probably end up even more lost. Best case, you’ll find your way home after a month, stone cold… Read More »The Map: How to create effective Business-wide financial crime risk assessments
7.5.0 New: Show controls in result view per risk category (and area) New: Create a setting for using fallback values for incomplete data Fixed: Ball and percent for transactions not showing properly
Model 2021:23 Split on Emoney and updates (now existing both on INT and EUR level) Merge of CNP and CP fraud and renamed to “Card fraud”. All levels. EBA guidelines update on securities threat cards Minor update on Jihadist terrorist organisations (INT) related to geography… Read More »Threat Model Update 2021:23
During the last years several large-scale money laundering schemes have been exposed. Last year alone brought forth both the greatest tax swindle in the history of Europe.
Criminal misuse of legal advisors, economists and real estate agents. Criminals are actively developing more sophisticated and complex methods to launder money.