AGCM

PRESS RELEASE

ANTITRUST’S ACTION AGAINST IMPROPER PRACTISES. THE ACTIVITY OF THE COMPANY GE.RI. AIMED AT THE CREDIT RECOVERY IN AN AGGRESSIVE MANNER HAS BEEN PROHIBITED AND PUNISHED

No more payment reminders, issued in an unfair and aggressive manner, with respect to alleged, unfounded or prescribed claims.

The Antitrust Authority at its meeting on 17 July 2014, prohibited the continuation by the GE.RI. Gestione Rischi S.r.l. of any activity aimed at the debt collection in an abusive and aggressive manner, imposing a penalty of EUR 205,000.

In particular, also on the basis of several reports received from citizens, the Authority of the Antitrust Group of the Market Protection Unit of the Guardia di Finanza and nine consumer groups found that the GE.RI. had urged consumers to pay - on behalf of various clients - alleged, unfounded or prescribed claims, even threatening legal action. In some communications it even announced the visit of an official to the home or workplace to "make another attempt at the amicable settlement of the debt", while other consumers were advised to make a toll call, for alleged "administrative checks," paying a high cost for the call.

The measure is in the context of a sector, that of the recovery of debts, in relation to which the Antitrust Authority has already taken several measures, imposing penalties for over 800 thousand euro, particularly against debt collection companies responsible for aggressive practices for sending fake summonses.

Rome, 6 August 2014