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PSzÁF fines Mód Kft Ft 1 mln

The State Financial Supervision Authority (PSzÁF) has fined real estate and trading company Mód Kft for Ft 1 million because the company denied cooperation with PSzÁF.

Company CEO Ágnes Újvári thinks adversely: she believes that they have handed over all documentation to the PSzÁF officers which states that they are not engaged in any financial activity. According to Újvári, the current legislation in effect only allows PSzÁF to check and verify whether they conduct any financial activity, which the documents clearly shows they do not. Mód Kft is planning on taking legal action against PSZÁF. (Világgazdaság)