25/03/2025
Finantsinspektsioon published 863 alerts on its website last year about companies operating without a licence in Estonia and elsewhere in the European Union. The alerts help consumers of financial services protect themselves against fraud.
The majority of the alerts are published first in other countries, but Finantsinspektsioon also issued six alerts of its own last year. Two alerts warned the public about credit being issued without a licence, and two were about unlicensed crowdfunding services. The other two concerned websites that published inaccurate information to mislead consumers. The website of one foreign bank stated wrongly that its bank deposits were guaranteed by the Estonian Guarantee Fund, while the other stated that it had a licence to operate from Finantsinspektsioon that it actually did not have.
More information about how to guard against fraud is given in Estonian on the Finantsinspektsioon consumer website www.minuraha.ee.