Article

Avoid orders and fines: The five classic mistakes leasing companies make in money laundering control

Several Danish leasing companies have received orders from the Danish Financial Supervisory Authority in recent years. Often it's the same mistakes that repeat themselves. We help you get the rules in order before the supervisory authority knocks on the door.

When the Danish Financial Supervisory Authority publishes its reports, a clear picture emerges: Many leasing companies still struggle to get the basic requirements of the money laundering law in order. It's rarely about unwillingness. Often there's just a lack of structure, clarity, and documentation.

Here are the five typical mistakes that the Danish Financial Supervisory Authority repeatedly points out at leasing companies:

1. The purpose of the agreement is not assessed and written down
2. You don't know the customer's overall situation well enough
3. Not enough knowledge is saved
4. Missing procedure for when and how to investigate
5. The risk assessment is too general or outdated

At Sentinel Risk Analytics, we help leasing companies build a concrete and documented customer knowledge process, assess the purpose of leasing agreements, structure investigations, and anchor money laundering work in everyday life.

Article

How we exposed an insider: A case about control breaches

How do you discover that an employee is acting against the company's interests? And how do you prove it when no one knows what's really going on? We have previously been involved in cases where suspicion of insider behavior and corruption was difficult to document.

But it turned out that it could be done.

Here is an example of a concrete case where a hypothesis was turned into action, which had clear consequences. Out of consideration for the parties involved, we do not mention the names of the companies involved.

We work with hypotheses. In practice, it's about formulating questions that can be investigated and answered. In this case, they were:

1. How does the company's controller ensure that long-term service agreements are complied with on the terms agreed?
2. How are new customers onboarded, and can they choose which employee they enter into agreements with?
3. Is there a connection between the company and the external partner that could point to a possible insider?
4. Can you find traces in historical data that show which agreements have been unusually unfavorable, and who has been responsible for them?

The company updated its procedures and strengthened its controls. The investigation pointed to a specific employee who was removed from the organization. The most significant gain was that the risk was shut down.