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Danish companies swindled by fake corporate executives

TheCopenhagenPost
April 12th, 2016


This article is more than 8 years old.

Accounting staffs being tricked into transferring millions

Danish companies are being duped out of millions (photo: gerault)

There have been two cases of late in which the Danish office of a major international company has been duped into transferring a total of 140 million kroner into bogus accounts, and Bagmandspolitiet, the fraud squad, is accordingly issuing warnings about what it is calling ‘CEO fraud’.

READ MORE: Danish fraud squad’s postal blunder costs prosecution in stock manipulation case

The scam involves someone calling the accounts department of the Danish division of an international company, pretending to be executives from the company.

On the down low
The local staff are instructed that the quick and confidential transfer of millions of kroner is required for the purchase of another company.

“They stress to the accounting staff that there are very short deadlines and that everything is very confidential so nobody should know about the acquisition,” an acting police superintendent, Thomas Anderskov Riis, told DR Nyheder.

An international problem
The Danish departments of two international companies have been cheated of 40 and 100 million kroner respectively. Another case was reported last week.

“This CEO fraud is a huge international problem, and we are warning other Danish companies,” said Riis.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”