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Creditro's blog

Read about Creditro's new functions. Find inspiration, tips and tricks.

1 min read

Creditro takes over KYC from Penneo

As part of Visma’s ambition to build world-class digital solutions, a strategic decision has been made to sharpen the focus of its portfolio...

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2 min read

The annual plan's core tasks for AML compliance officers

When you are subject to AML regulations, there are several tasks you need to complete annually. An annual compliance plan can help you stay on top of...

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2 min read

Welcome the new Creditro brand!

AML compliance can be a hassle, but we don’t think it has to be that way. That’s why we’re proud to finally introduce our new brand, which reflects...

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4 min read

This is how your company complies with §8 of the AML act

If you are subject to the Anti-Money Laundering Act, you must prepare documents describing the internal policies, procedures, and controls you have...

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3 min read

How to create your company's Risk Assessment

If your company is subject to the AML Act, you are required to conduct a risk assessment to identify where your business may be at risk of being...

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2 min read

What should you pay extra attention to in your AML efforts?

An audit visit is a review of a company’s ability to comply with anti-money laundering (AML) regulations. If your company is scheduled for an...

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2 min read

AML red flags you need to know about

There are many factors to consider when combating money laundering and financial crime. Effective processes ensure both compliance with legislation...

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2 min read

Specialised consulting with Creditro

Money laundering is a complex and serious social issue. With constantly evolving legislation, managing it on top of your core business can be...

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2 min read

Customised templates for risk assessments

Our solution has just had a major upgrade with a function that gives our users the opportunity to further customise templates and questionnaires for...

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7 min read

What is Compliance? From Basics to Best Practices

In a world where the business landscape is constantly changing with new technologies, market dynamics, and not least stricter regulations, the...

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2 min read

The challenges of manual KYC processes

"Know Your Customer" is an essential part of the Anti-Money Laundering Act, which essentially aims to reduce economic crime and money laundering. The...

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6 min read

Are you ready for an inspection?

It's important for us to prepare our customers for inspections from the Danish Business Authority. We continuously gain knowledge about the process...

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2 min read

What is Creditworthiness Assessment?

All companies that offer credit agreements have a legal obligation to do a creditworthiness assessment before entering into a credit agreement. This...

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1 min read

What is PCI DSS Compliance?

PCI DSS stands for Payment Card Industry Data Security Standard. It is a set of security standards developed by major credit card companies to ensure...

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3 min read

GDPR Compliance: Requirements and Consequences

Organisations that process the personal data of EU citizens must comply with the GDPR requirements. This includes obtaining explicit consent from...

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3 min read

Understanding GDPR: Protecting Personal Data of EU Citizens

Are you aware of the strict data privacy regulation that has been enforced in the European Union? The General Data Protection Regulation (GDPR) has...

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4 min read

Compliance costs money. This is how it pays off

In any business, compliance costs money. By ensuring that employees follow the rules and regulations set by the company, companies can avoid costly...

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3 min read

Software and ultimate beneficial owners

The question of who the Ultimate Beneficial Owner (UBO) is, the importance of knowing, and why people use software to determine ultimate beneficial...

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1 min read

Visma Creditro receives ISAE 3000 declaration

Our platform and the entire solution are built around the handling of sensitive data and personal data. Therefore, at Visma Creditro, we are pleased...

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3 min read

Customer Due Diligence in the banking industry

What is Customer Due Diligence? Banking is an industry that is constantly evolving, and with that, so are the regulations. One of the latest topics...

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4 min read

What is digital onboarding?

A company's onboarding process is critical to the success of its new client relationships. By definition, onboarding is the process of integrating a...

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3 min read

What is 'Know Your Third Party'?

In our interconnected world, being aware of the third parties you connect with is essential. A "third party" is a person or organisation that is not...

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1 min read

How to future-proof your compliance strategy

As our world becomes more complex and increasingly does business across borders, the risks associated with running a business become greater. To stay...

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3 min read

AML Compliance in Law firms

Money laundering is the process of disguising illegally obtained money as legitimate funds. Criminals typically do this by funneling the money...

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The Danish Bar and Law Society can present a revised guide for compliance with the Money Laundering Act,

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The The Danish Bar and Law Society's new AML guidelines

Practical examples are on the agenda, in the The Danish Bar and Law Society's revised money laundering guidelines, for preventing money laundering...

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2 min read

Can you predict a financial crisis?

During the course of 2008, the world economy was struck by a crisis, that was sp large in scale, that nothing like it had been seen since the...

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Bad payers are a universal thorn in the eye - and debt collection cases can knock any good business out, of course. We give you 10 tips on how to avoid bad payers.

2 min read

How to avoid bad payers and debt collection cases

Does your company experience that there are missing payments from your customers? Because more and more people are finding that the fees have not...

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Consumer screening is crucial - and the key is to be efficient, but what is the best approach to an efficient consumer screening

2 min read

5 tips for effective consumer screening in the financial sector

Overall, the financial sector is changing because more things are digitized and automated, where competence development is a decisive factor. It is...

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A credit rating can sharpen your awareness and help you avoid bad situations.

2 min read

Sharpen your awareness with a credit rating

What does a hotel portal have in common with a farmer with 500 dairy cows, a bookbindery in Skive, a nursing home in Odense, and a wind turbine...

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2 min read

How to spot a bankruptcy

It looks like bankruptcy often comes out of the blue, but there are several warnings before the cash register is slammed. This article clarifies the...

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3 min read

What is fraud – and who is behind it?

Deceit, fraud, cheating – dear child many names, and not least many faces. Spotting a swindler, and the deception itself, can seem as easy as...

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ID validation how and why read about verification of identification and KYC

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ID and validation – why and how?

From the darkest corners of the internet, to the people you choose to do business with, the problem seems to be the same: who are they? And how can...

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3 min read

Nine tips for a thorough credit assessment

Nothing is worse than entering into a new agreement with a customer, only to discover that the customer cannot pay their invoice. And even worse if...

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3 min read

How to predict fraud

All businesses can be affected by scams – in different places, and different ways. So how do you spot the scammer? How do you protect yourself from...

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2 min read

AI in the fight against money laundering

Today, AI helps with everything from directions to sales, marketing and combating money laundering. What is artificial intelligence? And what role...

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3 min read

What is ODD?

The ODD "Ordinary Due Diligence" is part of a series of concepts covering the checks that companies subject to the Money Laundering Act carry out in...

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2 min read

KYC: Know your customer requirements

What are the KYC requirements? Is it everyone who is obligated to perform a KYC check? And if not – which companies are obligated to do so and why?...

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2 min read

What is PEP?

PEP stands for a politically exposed person. These people are involved in politics or hold high government office. It is a person with a high-ranking...

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3 min read

What is money laundering, and how does it work?

The term may be over 100 years old – but it still begs the question: what is money laundering exactly? How do we spot it and how do we prevent it?...

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2 min read

What is CDD?

CDD stands for 'Customer Due Dilligence'. CDD is a crucial term due to the Money Laundering Act. To the same extent as the KYC concept, CDD is an aid...

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2 min read

What is Customer Screening?

The term Customer Screening is most often used in the financial sector when talking about knowing customers - however, it rarely stands alone. There...

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2 min read

What your company needs to know about money laundering

Did you know that money laundering is punishable already from the first stage? And that there are 3 phases? Money laundering is when you make illegal...

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2 min read

What is terrorist financing and how does it work?

Terrorist financing is collecting, transferring, or passing on money as a form of support for terrorist activities. Therefore, terrorist financing...

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2 min read

Why CDD is essential for companies subject to AML legislation

In 2020, a new money laundering directive was issued, which was called AML 5. This new directive emphasised that companies were now forced to move to...

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2 min read

What is an RCA?

RCA stands for "Relatives and Close Associates" and is related to PEP, Politically Exposed Persons. But how are they defined? And why is it important...

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3 min read

Are you ready for financial crisis

The concept of financial crisis is gradually being promoted in the media, all the while the big banks are starting to encourage air in the budget...

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2 min read

What are sanctions, and how do they work?

Sanctions are relevant as ever with Russia still thundering in Ukraine – but what are they in their entities? How do we impose them, and what are the...

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2 min read

2.2 billion in aid packages paid to companies with lousy credit-rating

In 2020, when the Covid-19 epidemic was at its peak, the state paid financial compensation to Danish companies. About 198,574 applications for...

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3 min read

What is KYB?

What happens when the KYC – process lays off the C and becomes KYB? Get an overview of KYB and how you use it in your company. KYB stands for" Know...

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2 min read

The difference between KYC and AML

KYC and AML are terms used in the financial sector regarding money laundering. However, the words have very different meanings and should not be...

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4 min read

What is KYC?

KYC stands for "Know Your Customer". But do you know which measures are legally binding and how decisions in Brussels affect your business? Read...

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