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Finanstilsynet Inspection Report: 4Finance ApS

Statement on inspection in 4Finance ApS (money laundering area)

In April 2021, the Danish Financial Supervisory Authority inspected 4Finance ApS. The inspection was an investigation of the money laundering area. The inspection included the company’s customer knowledge procedures and the company’s monitoring of customers.

Risk assessment and summary

The company offers smaller consumer loans to individuals. The company offers loans to customers through two different brands / websites: Vivus.dk and Zaplo.dk. The company does not offer other products and is only present on the Danish market. The Danish Financial Supervisory Authority assesses that the company’s inherent risk of being used for money laundering or terrorist financing is normally assessed in relation to the average of financial companies in Denmark. In the assessment, special emphasis is placed on the company offering a single financial product and that the product is only offered to private individuals residing in Denmark. Conversely, the company’s customer portfolio consists exclusively of distance customers.

On the basis of the inspection, the company has been ordered to ensure that the company carries out continuous updating of customer information for all customers in the company’s customer portfolio.

Link:

Inspection Report

Categories: Anti-Money Laundering Finanstilsynet Updates Inspection Reports

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