So if I understand it right, customers came into the shop, bought expensive hardware worth tens of thousands of Euros, and paid it all in cash … and nobody in the shop thought that this might be a bit fishy?
I hope they learned the lesson from this fine.
In a press release, the authority criticised the firm for not having properly followed up on suspicious transactions, not investigating the customers’ backgrounds and not reporting the incidents to authorities.
The transactions in question concerned cash payments of as much as tens of thousands of euros by customers from countries outside the EEA (the European Economic Area), according to the agency.
By failing to investigate or report those transactions, the agency said it believes the company exposed itself to a significant risk of facilitating money laundering and terrorism financing.
End of quote
Since when a fucking retailer must investigate their customers??? Who is writing these moronic laws? Soon nobody is going to want to do business in Finland or with Finnish entities. More losses and less taxes. But don’t worry, dumb Orpo will raise the VAT to 50% to compensate.
Explains why last time I as there, there did not accept cash payments over 200€
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So if I understand it right, customers came into the shop, bought expensive hardware worth tens of thousands of Euros, and paid it all in cash … and nobody in the shop thought that this might be a bit fishy?
I hope they learned the lesson from this fine.
In a press release, the authority criticised the firm for not having properly followed up on suspicious transactions, not investigating the customers’ backgrounds and not reporting the incidents to authorities.
The transactions in question concerned cash payments of as much as tens of thousands of euros by customers from countries outside the EEA (the European Economic Area), according to the agency.
By failing to investigate or report those transactions, the agency said it believes the company exposed itself to a significant risk of facilitating money laundering and terrorism financing.
End of quote
Since when a fucking retailer must investigate their customers??? Who is writing these moronic laws? Soon nobody is going to want to do business in Finland or with Finnish entities. More losses and less taxes. But don’t worry, dumb Orpo will raise the VAT to 50% to compensate.
Explains why last time I as there, there did not accept cash payments over 200€
When did real money get stupid?
So it’s legal when you pay a fine 🫠
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