SMS Loan Companies: Risks of Being Exploited for Money Laundering

The Swedish financial watchdog Finansinspektione (FI) has reported their investigation of the SMS loan companies in Sweden. SMS loans are non secured, small, typically under 3,000 SEK (450USD),  loans which can be applied by simply sending the application through a SMS text message. The loan is transferred into a bank, but can be repaid by cash. […] Read more »