Extreme Digital-eMAG Kft. received a serious fine

By: Trademagazin Date: 2023. 12. 04. 11:51

The customer information activities of Extreme Digital-eMAG Kft. were unlawful on many points, in addition, some of its records were incomplete and it did not verify the analysis of a sufficient amount of competing credit products – the MNB informed MTI on Monday, so the company received a fine of almost HUF 15 million. The MNB established that Extreme Digital-eMAG Kft. did not fulfill its obligation to analyze products suitable for comparison during the period under review, and could not prove to the MNB that it presented a sufficient number of competing credit products to its customers.

The MNB also established that Extreme Digital-eMAG Kft. also did not fully comply with its obligation to provide information prior to the mediation of the financial service, concerning the money market intermediary, and prior to the conclusion of the loan agreement.

The MNB’s investigation revealed that Extreme Digital-eMAG Kft.’s intermediary register was incomplete. During the investigation, Extreme Digital-eMAG Kft. was unable to present an adequate, itemized, product-level record of the mandatory training and further training.