Inside a Fraud Investigator Day in the Life - The Westway Holdings Scam

[@banksters.italia]

well done, interesting topic

[@FinCrimeAgent]

Glad to read that! A massive thank you goes to Zan for his time and for sharing this fraud case with us.

[@masha1986]

Great video! Looking at their filling history on Companies House, is there any pattern or red flags maybe, that we should be aware of?

[@FinCrimeAgent]

Thanks for watching and for the great question! Based on what Zan shared during our interview the key element to ensure prevention of such scums is to implement solid KYC at onboarding and of course as an ongoing process. While I don’t have specific details on Westway Holdings’ financial discrepancies, looking at a company’s filing history on Companies House can indeed reveal potential red flags. Key things to watch for include late filings, frequent changes in directors, and unusual patterns in financial statements, such as significant variations between assets and liabilities or declining profits over time. These can sometimes indicate deeper issues. On the investors front, it’s always super important to conduct thorough due diligence before getting involved with any investment.

[@masha1986]

Spot on! That really make sense. The existence of single indicator in relation to a company (i.e. checking the company filings alone) may not warrant suspicion, nor will single indicator necessarily provide a clear indication. Comprehensive due diligence is a must indeed. Thank you so much Fincrime Agent. Great content as always!

[@FinCrimeAgent]

Thank you for commenting on this video! I’m glad to read such a positive feedback about my content. Thanks for watching and supporting my channel 🙂 Marco