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Dina-Perla Portnaar and Michel Klompmaker, Experts at Risk & Compliance Platform Europe 03.03.2021
Fraud
When we talk about combating financial-economic crime, we usually tend to keep our eyes closed to two aspects, namely proportionality and the (political) protection of the stakeholder(s). An example is the commotion around the so-called Bulgarian’s fraud in the Netherlands. Dozens of Eastern-Europeans made use, or misuse if you want, of administrative shortcomings in the allowance system, which has been placed with the Dutch tax authorities. We are talking about several hundred euros per person.
At the same time, tens of billions of euros were flowing and flying across the oceans to tax havens. The same tax authorities adopted a strict formal stance and presupposed the good intentions of dearly paid tax lawyers and civil-law notaries. Obviously paid by ‘neat’ agencies, created by the Ultimate Beneficial Owners (UBOs), but it was often not clear who they actually wer
Fenergo to Transform Investor Lifecycle Management for Top Five Global Investment Management Firm
Leading investment management firm with approx. $2 trillion asset under management (AUM) to digitally transform investor, counterparty and intermediary lifecycle management with Fenergo
DUBLIN, LONDON and NEW YORK, Jan. 14, 2021 /PRNewswire/ Fenergo, the leading provider of digital transformation, customer journey and investor lifecycle management solutions has been selected by a top five global investment management firm with $2 trillion AUM. Fenergo will provide best practice workflows for separate account onboarding and alternative client counterparty due diligence and intermediary/distributor oversight for the firm s global offices. In addition, Fenergo will provide Know Your Customer (KYC), Customer Due Diligence (CDD), Anti-Money Laundering (AML) systems and risk scoring services. Fenergo will enable the investment management firm to digitally transform its customers and inter