Debt collection agency fined €12,000 for violations in Turku, Finland

A debt collection agency in Turku has been fined thousands of euros for its violations. The Southern Finland Regional State Administrative Agency announced that KTI Laskutus Oy has systematically failed to comply with obligations under anti-money laundering legislation. As a result, the agency has imposed a penalty of €12,000, which must be paid to the state.

The amount of the fine was determined based on an overall assessment, taking into account the nature and extent of the violations, as well as the agency’s financial position. The agency particularly criticized the company for not verifying the identity of either the client or their representative. Furthermore, there were deficiencies in the agency’s risk assessment and operational guidelines.

It is important to note that the Regional State Administrative Agency’s decision is not yet legally binding.