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 overwhelming. Therefore, we now offer tailored consulting services that assist our clients with the practical compliance of money laundering laws, ensuring their workflows align with their framework.

Our consultancy service is provided in collaboration with a lawyer who is an expert in anti-money laundering legislation and works at the law firm JL Rungsted. This collaboration ensures that we offer the most up-to-date and relevant counselling.

We offer three different services 

1. Development of Internal Policies and Procedures (§7 and §8)

According to §8 of the Anti-Money Laundering Act, companies must develop policies and procedures based on the risk assessment conducted in accordance with §7 of the Anti-Money Laundering Act. The policies must be in writing and describe how money laundering prevention is handled within the company. This includes a description of the workflows implemented to comply with the legislation, as well as the company’s risk assessment and written policies.

This is a complex and time-consuming task, which we can now help our clients with, so they can focus on customer-facing tasks instead. As part of the service, clients will receive a risk assessment in accordance with §7 and a fully completed §8 document – ready for inspection. Before the lawyer prepares the document, there will be an initial 1.5-hour online conversation to review workflows and policies.

2. Quality Control 

For those who have their procedures and procedures in place, we offer to put them to the test.

Through a thorough review of notifications and investigations, we provide a clear understanding of what is required for an audit. Together with the lawyer, KYC procedures are reviewed, and workflows are tested as if it were an actual audit. This allows for the correction of any weaknesses and the improvement of procedures moving forward.

Practically, this involves an initial 1.5-hour online conversation, after which the lawyer is sent a client list. From this list, four client cases are selected for the mock audit, which takes four hours. During the four hours' mock inspection, KYC and notifications/investigations are reviewed.

3. Training & education 

Finding the time to familiarise oneself with the rules of the Anti-Money Laundering Act can be challenging when focusing on core business, but it is essential to stay up-to-date with the latest developments in legislation.

Therefore, we offer training on relevant topics through webinars and courses. Topics may include the rules of the Anti-Money Laundering Act, effective KYC procedures, or interesting cases that can provide inspiration. We tailor the training so that both the content and format makes the most sense for our clients, and we best convey the expert knowledge we have in the field.

Creditro Consultancy 

By choosing Creditro Consultancy, you gain access to specialised knowledge and experience in money laundering legislation. Our holistic approach ensures that all aspects of compliance are covered, and you are well-prepared to handle any audit. We work closely with our clients to understand their company's unique needs and tailor our services accordingly.

Learn more about our Consultancy Services or contact us if you want to hear more about how we can help you achieve full compliance and ensure effective and secure workflows.