Kontakt
Qred, branch of Qred Bank AB
CVR 38972294
Fruebjergvej 3
2100 Copenhagen
support@qred.dk89 87 10 062100 Copenhagen
Qred Bank AB (“Qred”) is a bank regulated by the Swedish Financial Supervisory Authority. Qred is thus obliged to comply with the law (2017:630) in actions against money laundering and terrorist financing (the Money Laundering Act). On this page, we have collected information about what money laundering means, what the law requires and how it affects you as a customer
What is money laundering and terror financing?
Laundering is the treatment, of money originally derived from criminal activities, to conceal the criminal connection. Laundering can also mean hiding money actually earned in an attempt to avoid tax payment. In money laundering, criminals can use illegal money without causing a stir.
Terror financing includes the financial support of terrorism. This can be done through direct donations, but also indirectly by collecting, supporting or receiving money used in connection with terrorism. The funding can be done with actually earned money, with the main purpose of funding terror, that is illegal.
Money laundering and terror financing are serious threats with our society. At Qred, we take responsibility in the fight against money laundering and terrorist financing and are therefore committed to asking a number of questions to our customers
Qred's commitment to asking questions
The requirements to know one's customer are high in relation to the prevention of money laundering. Qred is always obliged to collect information about customers and assess the risk of the service being used for money laundering or terrorist financing.
Both new and existing customers are subject to customer knowledge requirements, as the information must always be up-to-date and relevant. Therefore, existing customers will be asked to update information from time to time.
The requirements for customer knowledge result in Qred being required to verify the identity of customers, the identity of the ultimate owner, information about PEP, purposes and habits of transactions. If we do not receive answers to questions in this regard, it may result in us not being able to offer our services or having to terminate contracts with existing customers.
What does PEP mean?
PEP is short for Politically Exposed Person. It is a broad concept that includes people who have or have had public duties, or a function in the management of an international organization, as well as the person's family or well-known employees. “Important public functions” shall mean the following:
What is a real principal owner?
A beneficial owner is the person (s) who has the largest control or ownership interest in a company or association or who acts on behalf of the entity. A real main owner is therefore always a natural person.
Owning or controlling a company can take various forms, such as owning more than 25% of the company or by having the right to hire or dismiss more than half of the board members.
If a person owns or controls a business jointly with a related party (spouse/partner/cohabitant/registered partner/parents/children and children's partner/collective/spouse), these shares of ownership must be added together. For example, if two spouses each own 30% of the company, their joint ownership will become 60% and both must be counted as the main owner of the company.
If there is no real principal owner, the director, chairman of the board or the responsible party must be registered as the beneficial owner.
Why do we need to specify the purpose of the transaction?
When applying for a business loan, you need to answer questions about what the company does, turnover and what the purpose of the loan is. This is so Qred can understand the background to the transaction, what the loan will be spent on but also where the money will come from when the loan is paid back.
In some cases, Qred is required to collect additional information such as agreements, receipts, invoices or similar documents from you.