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Finanstilsynet Inspection Report: Kruså Servicecenter ApS

Statement on inspection in Kruså Servicecenter ApS (money laundering area)

In May 2019, the Danish Financial Supervisory Authority inspected Kruså Servicecenter ApS.

The inspection included the company’s currency exchange business and was intended to investigate whether the company complied with the rules in the area of ​​money laundering. Based on a risk-based approach, special focus was placed on the company’s customer knowledge of its customers as well as the company’s investigation and notification obligation.

Risk assessment and summary

The company has a permit for currency exchange pursuant to section 41 of the Money Laundering Act. The company, located at the Danish / German border crossing in Kruså, offers currency exchange to private customers and corporate customers at the same time as the company runs a car workshop. 

The company has three employees including the director, including two full-time. The company has few business customers, who in turn are permanent business associates. 

The Danish Financial Supervisory Authority assesses that the company’s inherent risk of being misused for money laundering or terrorist financing is high. The Danish FSA’s assessment is based on the assessment of the inherent risk of money laundering and terrorist financing, which is associated with currency exchange activities. 

The company is instructed to ensure that investigations of unusual transactions are noted and documented.

Link:

Inspection Report

Categories: Anti-Money Laundering Finanstilsynet Updates Inspection Reports

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