Systematic set to develop Money Laundering Register for the Danish Business Authority
In the future, the Danish Business Authority (Erhvervsstyrelsen) will find it easier to comply with the control and supervision duties imposed on the organisation by the Money Laundering Act legislation in Denmark. This new Money Laundering Register, which is to be developed and maintained by Systematic, will make this happen.
26 February 2015
The purpose behind the Danish Money Laundering Register is to carry out a more controlled case management with regard to the companies and individuals subject to the legislation. Money laundering is defined as “An action that attempts to conceal a dividend from a punishable act, so it appears as a legitimate transaction.”
Examples of such actions include those associated with terrorist financing and other financial crimes. These are actions that the Danish Business Authority checks and monitors in collaboration with other authorities.
Easier to undertake checks
The Money Laundering Register will include a case officer section that makes it easier to deal with supervision and risk-based checking procedures. In addition, there will be a checking information system designed to ensure the retrieval of data relevant for checking purposes.
We are very pleased to continue our collaboration with the Danish Business Authority with regard to this important solution. This is a system that matches very well with one of Systematic’s core values – contributing to society
Systematic has proposed a solution that provides Danish Business Authority caseworkers with better service and security, within a user-friendly solution.
Longstanding working relationship continues
The Danish Business Authority and Systematic have collaborated on projects that include the former Næringsbasen database of food retailers and the Danish Central Business Register (CVR) over a period of many years. In the new system, which will be developed with the aid of the agile project model used by the Danish Business Authority, both parties will benefit considerably from this experience.
Once development work is complete, and an effective transition from the current system has been implemented, the Money Laundering Register will progress over to a 4-year maintenance agreement.