Statement on inspection in Integritet Invest ApS (money laundering area)
In November 2021, the Danish Financial Supervisory Authority inspected Integritet Invest ApS. The inspection was an investigation of the money laundering area. The inspection included the company’s risk assessment, policy and written business procedures in the area of money laundering.
In addition, the inspection included the company’s customer knowledge and monitoring as well as the company’s duty of investigation, listing and notification.
The company’s business model is to advise customers on investments in customers ‘deposits and accounts in customers’ banks. The company primarily advises private customers, but also companies, e.g. holding companies, but which are owned by one natural person with whom the contract is concluded.
The Danish Financial Supervisory Authority assesses that the company’s inherent risk of being used for money laundering or terrorist financing is low in relation to the average of financial companies in Denmark. In its assessment, the Danish Financial Supervisory Authority has placed particular emphasis on the fact that investment advisers generally have a low inherent risk, both due to the product in which the company offers non-complex, highly liquid and listed products, and that the company’s customer relationships are long-lasting and regular. In addition, the company offers investment advice, where the company only has access to customers’ custodian accounts.
On the basis of the inspection, the Danish Financial Supervisory Authority has given rise to the following supervisory reaction.
The company has been instructed to assess and, where relevant, obtain information about the purpose and intended nature of customer relationships and to ensure that this can be documented to the Danish Financial Supervisory Authority.
Categories: Anti-Money Laundering Finanstilsynet Updates Inspection Reports
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