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Finanstilsynet Inspection Report: DK Desi Bazar

Statement of inspection in DK Desi Bazar (money laundering area)

In February 2018, the Danish FSA was on inspection in DK Desi Bazar v / Mohammad Tariq. The inspection was an investigation of the money laundering area as part of the ongoing supervision of the company. The inspection included the company’s compliance with the rules on customer knowledge, monitoring, investigation, notification and listing.

Risk assessment and summary 

The company carries out money transfer business as an agent of Euronet Payment Services Ltd (RIA).

The Financial Supervisory Authority considers that the company’s inherent risk of being abused for money laundering or terrorist financing, as an agent for a money transfer company, is highly rated in relation to the average of financial companies in Denmark. In the assessment, the Danish FSA has placed particular emphasis on the fact that money transfer companies are generally considered to have a high inherent risk of being exploited for money laundering or terrorist financing.  

Based on the inspection, there are no areas that give rise to supervisory reactions in relation to the company.

However, the Danish Financial Supervisory Authority finds it advisable to make recommendations to the JHA regarding a matter for which the JHA was responsible: 

  • The FSA found that the thresholds used in the RIA’s customer software did not ensure that information on the origin of the funds in relation to customer transactions was obtained in all cases where relevant.


Inspection Report

Categories: Anti-Money Laundering Finanstilsynet Updates Inspection Reports


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