EUR 540,000 administrative fine imposed on Verkkokauppa.com by Regional State Administrative Agency for deficiencies in anti-money laundering legislation compliance

Core Points - Verkkokauppa.com has been fined EUR 540,000 by the Regional State Administrative Agency for deficiencies in compliance with anti-money laundering legislation [1] - The fine is based on an inspection that revealed inadequate documentation and processes related to cash payments from September 2020 to August 2023 [1] - The company is committed to improving its anti-money laundering measures and has implemented a maximum cash payment limit of EUR 200 per transaction [2] - The company is currently reviewing the decision and considering whether to appeal, noting that the decision is not legally binding [3] Company Overview - Verkkokauppa.com was founded in 1992 and has been operating online since its inception [5] - The company's revenue for 2024 was EUR 468 million, and it employs approximately 600 people [5] - The company is listed on the Nasdaq Helsinki stock exchange and serves over 1.7 million customers with fast delivery options [4]