News

Finantsinspektsioon has withdrawn the licence as a credit intermediary from Montonio Finance OÜ

On 17 February Finantsinspektsioon withdrew the licence as a credit intermediary issued on 1 July 2019 to Montonio Finance OÜ. The licence was withdrawn following an application from the company itself.

iRaha Estonia OÜ was granted an operating licence as a creditor

Finantsinspektsioon issued a licence to operate as creditor to iRaha Estonia OÜ on 3 February. The licence gives the company the right to provide unsecured loans to consumers under a credit contract.

The members of the management board of iRaha Estonia OÜ are Erik Karu and Kersti Kurval.

Finantsinspektsioon tested the systems of financial institutions for applying sanctions

Finantsinspektsioon ran a large-scale test in 2024 to assess the ability of the automatic controls of banks, payment institutions and investment firms to identify people and companies on the sanctions list. Finantsinspektsioon found that the results of the test of the filtering systems were generally good.

Finantsinspektsioon hosted a visit by the Finnish financial supervisor

Finantsinspektsioon hosted a visit from Fiva, the Finnish financial supervisor, on 31 January 2025. Visiting from Finland were chair of the board Tero Kurenmaa and management board members Jyri Helenius and Samu Kurri.

Complaints submitted to Finantsinspektsioon mainly concerned payment and credit services

There were 374 complaints submitted to Finantsinspektsioon last year about financial services, down from 389 in the previous year. The majority of the complaints concerned payment and credit services.

Finantsinspektsioon published almost 900 alerts last year

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.