The scandal around the collapsed Danish money-laundering and scam facilitation hub evolves. While the bank is being wound up, more information about the illicit activities is coming to light. Law enforcement agencies across Europa from Spain via Denmark to Ukraine are currently conducting intensive investigations. Whistleblowers and victims have provided us with bank details to trace the scammers. As an analysis of the victim cases of different scams brings up new details.
Agents of the illegal boiler rooms have for example provided victims of different scams the bank details oft KBH Andelskasse for bank wires. In particular, client-victims of the scams were instructed to transfer the money to a bank account with the IBAN DK6878720006602028 with the KBH Andelskasse.
The Danish KBH Andelskasse of Wael Almaree and his partner Robert Courtneidge was closely associated with the UK FCA regulated Moorwand Ltd (previously d/b/a UPayCard). Until the collapse of the small Danish bank towards the end of 2018, Moorwand and KBH Andelskasse were under the control of Amaree and Courtneidge. On 13 September 2018, Danish Finansiel Stabilitet assumed control of the bank. According to the Danish authorities’ findings to date, a significant proportion of money laundering transactions have been carried out by Moorwand and/or companies affiliated with Almaree and Courtneidge (read this FinTelegram article here).
We may be strained, which comes with the investigations approximately around the KBH Andelskasse still to the day. At some point in time the UK FCA will also have to answer questions about the Moorwand.