25/03/2025
Chair of the Finantsinspektsioon management board Kilvar Kessler said that the supervisor cannot tolerate abuse of trust in the financial sector for criminal aims. “Finantsinspektsioon always responds appropriately to suspicions of criminal activity, which also means taking into account other ongoing or potential cases”, he added.
The Planet42 case has caught the attention of Finantsinspektsioon since spring this year, and Finantsinspektsioon has already sent notification of criminal activity in relation to it to the investigative authorities. Finantsinspektsioon is not commenting on the nature of the crime and the ongoing criminal proceedings at the current time.
The penal code states that it is a crime to operate without a licence in credit, insurance or financial services in areas that require a licence. Finantsinspektsioon does not investigate criminal activity, but can help the investigators to solve financial crimes if needed. Finantsinspektsioon supervises the financial sector for stability, reliability and transparency, and mainly observes businesses that it has issued a licence to.