Fraud has long been a challenge for businesses and public sector organizations. In 2019, we wrote about the most common types of fraud, and even then it was clear that the number of cases was increasing and that in many cases they were becoming more sophisticated. It has probably not escaped anyone's attention that technological developments since 2019 have been rapid, and we are...
Betalkontroll has contributed its views and experiences to the Swedish Competition Authority in connection with the government's assignment "New gatekeeper functions in LOV – proposals that help to counteract criminal or unscrupulous suppliers in the freedom of choice system." The Competition Authority itself notes that the term "unscrupulous companies" is only mentioned in one place in the LOV bill, and it is clear that the problem with criminal and unscrupulous...
New regulations based on existing frameworks It has probably not escaped anyone's attention that the EU has a clear agenda in the area of sustainability. Several new regulations have been introduced in recent years, and more are on the way. But how do these regulations fit together, and which requirements are already covered by existing frameworks and guidelines? Put simply, one can...
It may not be immediately apparent, but Sweden is in the midst of an extensive modernization of its payment infrastructure. At the heart of this is the transition to ISO 20022, a global standard for financial messages that replaces older formats such as SWIFT MT and Bankgirot's LB, KI, and BgMax files. In this article, we provide an update on the rollout...
On March 1, 2022, a law on reporting payment terms came into effect. This means that Swedish legal entities with more than 249 employees must report annually to the Swedish Companies Registration Office on their payment terms for purchases from companies that are smaller than themselves. The information will be public and available to the general public. The purpose of...
What is P27? P27 Nordic Payments Platform is a Nordic initiative whose goal is to create a shared, modern, and future-proof infrastructure for payments in the Nordic region. It is a joint banking project whose purpose is to promote trade within and between the Nordic countries, among other things by enabling real-time cross-border payments. File communication Bankgirot's...
Betalkontroll™ now has functionality to flag payments to countries on the EU sanctions list in real time. Our customers choose which countries they want to check. In Betalkontroll™, you can also search for and quality assure foreign suppliers. With access to company information for 365 million companies in 160 countries, you will find all the important information you need to...
Double payments A double payment means that the same invoice is processed and paid twice. Virtually all business systems today have controls in place to detect double payments. As a rule, these controls are based on the principle that there can only be one unique combination of supplier ID and invoice ID. These controls detect some of the situations that would otherwise...
Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. We have listed the most common types of fraud. External fraud Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. Today, limited liability companies are a natural part of criminals' arsenal. It is estimated that at least five...
