There were 389 complaints submitted to Finantsinspektsioon last year about financial services, up from 335 complaints from consumers in the previous year.
Finantsinspektsioon issued a precept to Bigbank AS (registry code 10183757) on 29 January requiring the bank to remedy deficiencies in its credit risk management and control that were identified during an on-site inspection.
Finantsinspektsioon found major deficiencies in the anti-money laundering and terrorist financing systems and organisations of AS TBB pank (register code 10237984), and so issued a precept limiting the bank’s activities in providing payment services and required the bank to eliminate the deficiencies.
Finantsinspektsioon fined the pension fund manager Tuleva Fondid AS (register code 14118923) 100,000 euros for a misdemeanour, as there were major deficiencies in the adverts of Tuleva Fondid AS for financial services.
Finantsinspektsioon helps protect consumers against fraud by publishing alerts or warnings on its website about companies operating without a licence in Estonia and elsewhere in the European Union.
Finantsinspektsioon fined the creditor Invest in OÜ (register code 12209917) 16,000 euros for a misdemeanour, as the company did not submit its regular supervision reports on time.
