Madrid Based Tech Start Up Attracts Funding for its Money Laundering Investigations

Money laundering

Alejandro Caneda, CEO and founder of Pibisi Credit: Twitter

ONE of the greatest problems that governments around the world encounter is that of money laundering and it is a major task to try to identify attempts to legitimise money that has been obtained illegally.

One new start-up technology company in Madrid, Pibisi believes that it can analyse potential money laundering risks not just by criminals but also by terrorist organisations looking to move money around the world.

It has just raised €140,000 and has found ready support from a number of large investment companies and also Angels which is owned by Juan Roig, President of Mercadona who can see the importance of the ‘Cloud’ to track down bad money.

Nowadays, companies have an obligation to try to ensure that they are not, even unknowingly, accepting investment from criminals or selling goods or properties where the source of the funds is not known.

This is an ideal option for banks, estate agents, auction houses, car dealers and other sellers of expensive items to take positive action to ensure that they are in compliance with the law and to advise the authorities of any suspicions they may have.

Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page