In recent years, Danish society has witnessed not just one but several cases of money laundering and fraud. Cases that affect not only the business community but also the financial sector. These cases are unlikely to diminish in the years to come as the opportunities offered by globalization increase.
The Corona crisis alone has had major consequences for Danish companies, the financial sector and Danish society. Unfortunately, the crisis has not only had major economic consequences for society, but also the unfortunate consequence that money laundering and financial fraud have flourished. As recently as May 21, the Danish news media reported that the Danish Financial Intelligence Unit has already received 20 reports of fraud involving the Government's aid packages worth DKK 7 million. At the same time, banks have sent 133 reports to the Money Laundering Secretariat. Presumably, this is just the beginning of an increase in cases of money laundering and financial fraud that Denmark has probably rarely seen.
Collectia and Creditro are not alone in analyzing and collecting data to prevent money laundering and fraud. However, together we are stronger, each with our own specific competencies. A united front against money laundering and fraud is always the strongest team. Thus, it is a great pleasure that Collectia and Creditro have entered into a strategic collaboration where we create a synergy between our competencies and together will streamline our processes for the benefit of the financial sector and the business community.
Together, Collectia and Creditro can provide a comprehensive overview of all cases. The unique thing is that we can link data and through differentiated competencies, you as customers of Collectia or Creditro can get an overview, not only on historical debt information but also an estimate and an assessment of potential money laundering and fraud as well as an upcoming bankruptcy.
If you want to hear more about Creditro and our collaboration, please contact Sebastian Andersen, Account Manager at Collectia, at email@example.com or Martin Nielsen, Sales Manager at Creditro, at firstname.lastname@example.org.
Creditro has enabled prevention against financial fraud and money laundering for, among others, the financial sector and Danish companies. In 2019, Creditro issued warnings on 65% of completed bankruptcies at least three months before the bankruptcy occurred. Furthermore, Creditro can warn about potential organized crime, bankruptcy riders and up to 90% of money laundering and fraud cases before it has a consequence for others in the business community.