No photo available

Ericsson AB

Companies

Ericsson AB, the Swedish telecommunications company that says it has customers in more than 180 countries, received €4,301,650 ($5,521,512.16) from LCM Alliance at the start of April 2013.

A representative of Ericsson told OCCRP that it does not have a business relationship with LCM Alliance and does not know why the payments ultimately came from that entity. However, the payments were made “under a customer contract related to telecom services and products” and the customer used a payment service provider.

“The company receives a great number of payments from different countries and in different currencies. It is challenging to fully control all incoming payments - anyone can pay amounts to accounts without the account holder’s prior approval - but we do reconcile and allocate payments received to issued invoices so that we know when an invoice has been paid.

“We are currently working on further improving the reconciliation and allocation ways of working. We work closely with our banks in these respects. Ericsson supports anti-money laundering measures.”