The company has come under investigation for its activities prior to March 8th, the date on which it acquired a licence required by all credit rating firms.
Having consulted the findings of an official inquiry launched earlier this year, the Chancellor of Justice has concluded that the controversial company should have obtained such a licence before it began releasing income details online.
But Ratsit’s CEO Anders Johansson contends that his company acquired the licence mainly for marketing purposes and that they were not in fact breaking the law up to that point.
“We don’t have a database for credit checks. Instead we pay for the service from the company Businesscheck, which does have a licence,” he told Dagens Nyheter.
Ratsit became an immediate success following its launch in late 2006 with many people unable to resist the temptation of checking out the income details of friends, acquaintances and bosses.