Regulatory Alerts2022-12-15
Circular on Telephone Collection Activities
The Norwegian Financial Supervisory Authority issued Circular 5/2022 to define good collection practice regarding telephone follow-up of debtors, based on a thematic supervision of collection agencies. The circular mandates that contact must occur only within specific hours, limits the frequency of calls to prevent undue pressure, and requires robust risk management and internal control systems. Agencies must also respect debtor privacy, maintain confidentiality, and ensure automated dialing systems comply with these strict operational boundaries.
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