On 1-2 September, the head of banking supervision at the European Central Bank (ECB) Andrea Enria visited Estonia. During his visit Mr Enria met the management board of Finantsinspektsioon and leaders of the largest Estonian banks.
The Chairman of the Management Board at Finantsinspektsioon, Kilvar Kessler, and the Acting Director of the US Financial Crimes Enforcement Network (FinCEN), Him Das, met today in Tallinn to discuss the impact and risks of the war in Ukraine on the financial sector and opportunities for continued successful cooperation between the corresponding US and Estonian authorities.
Finantsinspektsioon mapped the payment institutions under supervision, and one point of assessment was their management of IT risks. The conclusion of the review was that payment institutions have relatively few of their own IT staff and are heavily dependent on IT services bought in from outside providers.
Finantsinspektsioon has highlighted that any company that offers its clients client loyalty cards, fuel cards, membership cards, public transport cards, account-based payment options and other personalised and restricted means of payment for use in its premises, in a restricted network or for purchasing only some services and products may bear the obligation to inform Finantsinspektsioon of its
Under the regulation of the European Union, all crowdfunding service providers have to have an authorisation by 10 November 2022, after which they cannot operate without one. The final deadline for applying to Finantsinspektsioon for an authorisation is at hand.