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Practical Information, Data, and Documentation

This article contains a wide range of practical information about Visma Creditro

The following topics are included in this article:

  • Who is Visma Creditro?

  • Data security

  • Data processing

  • API documentation

  • Sections 7 and 8 of the Anti-Money Laundering Act

  • SMTP setup

  • A client wants their data deleted

Who is Creditro?

Visma Creditro was established in 2017 with the purpose of putting an end to fraud, scams, and money laundering.

We specialize in developing intelligent software for investigating financial crime. We have used this experience to develop a platform that helps stop financial crime.

Every day, we help our customers collect and manage the extensive documentation required to comply with the strict transparency and accountability requirements of sections 7 and 8 of the Anti-Money Laundering Act.

The same tool also includes pre-screening, credit assessments, and an early-warning and anti-fraud system capable of identifying 9 out of 10 fraudulent companies and warning about 65% of all bankruptcies at least three months before they occur.

Among our customers are some of the country’s largest companies in industries such as law and accounting, and we see a significant increase in new customers month after month. We view this as a strong endorsement of the quality of our work.

We have close cooperation with our customers on developing new products and features that help free up resources in a busy workday.

Visma Creditro has offices in both Esbjerg and Copenhagen, covering all of Denmark from east to west. You can find us at the following addresses:

Gærtorvet 1-5
1799 Copenhagen
+45 72 16 17 01
info@creditro.com
www.creditro.com

Østervangsvej 4C, 1st floor
6715 Esbjerg
+45 72 16 17 01
info@creditro.com
www.creditro.com

Read more here: https://creditro.com/en/about-us

Data Security

You can read more about our data security here: https://creditro.com/en/trust-center

Data Processing

Your data processing agreement is attached as an appendix to your contract with Creditro. If you need a copy, you can find it here: Data Processing Agreement

API Documentation

You can find the API documentation via the following link: https://documenter.getpostman.com/view/3407036/TzJrBJnX

Sections 7 and 8 of the Anti-Money Laundering Act

Here is a brief overview of Section 7 of the Anti-Money Laundering Act, which generally concerns the company’s internal guidelines, and Section 8, which concerns Know Your Client (KYC) and risk assessment of the client.

Section 7 relates to Know Your Client. Here you can see when you need to perform KYC and what documentation is required.

Section 8 covers the company’s internal policies, including determination of your company’s inherent risk, procedures for reporting to the Danish State Prosecutor for Serious Economic and International Crime (SØIK), whistleblower schemes (if over a certain number of employees), and AML training for staff, etc.

When should I perform KYC on my client?

  • When establishing a business relationship.

  • When relevant circumstances of a client change.

  • At appropriate intervals.

  • For individual transactions above a certain amount.

  • For games where stakes or payouts exceed a certain amount.

  • Upon suspicion of money laundering or terrorist financing.

  • When there is doubt about previously collected information about the client.

What must I document when performing KYC on my client?

  • Mapping of beneficial owners and control structure

  • The client and beneficial owners

  • Verification of CPR number

  • Name and address information

  • PEP (Politically Exposed Persons, family members, or close associates)

  • Sanctions checks

  • Risk assessment

  • Geographic risk

  • Delivery risk

  • Product risk

  • Service risk and industry risk

  • Other considerations

  • Ongoing monitoring

It is important to emphasize that the Anti-Money Laundering Act covers more than the above. For more information, please visit the Danish Financial Supervisory Authority’s website: https://www.dfsa.dk/

SMTP Setup

There is an option for an SMTP solution so that emails to your clients appear to come from your domain instead of Creditro’s domain. However, you must handle the setup yourself and be aware that we will not be able to track the emails sent. If you want more information, please contact customer service.

A Client Wants Their Data Deleted

If a client contacts Creditro requesting their data be deleted, we will contact you and inform you of this. It will then be your decision whether you still need the client’s data to comply with the Anti-Money Laundering Act or if you no longer require it, after which we will delete the relevant data. We will then contact the client and inform them of your decision.