Finnish businessman handed €121,000 speeding ticket

Written by ABC Audio ALL RIGHTS RESERVED on June 6, 2023

(LONDON) — A wealthy man in Finland has been handed a whopping €121,000 fine ($129,544) for speeding.

Andres Wiklöf — one of Finland’s richest men — was driving on Finland’s Åland Islands on the Järsövägen headed towards the Åland Island capital, Mariehamn, when police caught him driving approximately 50 mph in a 30 mph zone.

Speaking to local media, Wiklöf said that he was aware he was over the speed limit which changed “suddenly” and was attempting to slow down, but did not manage to slow down fast enough.

“I really regret the matter,” he told Åland Island’s main newspaper, Nya Aaland. Wiklöf was also issued with a 10-day driving license suspension.

Under Finland’s “Day-Fine” system, an individual’s income is a key determinant in the size of the fine they are subsequently issued with by law enforcement. Finland was the first Nordic nation to introduce the income-based “Day Fine” system in 1921, and several European nations have followed suit since.

Further, under the Finnish “Day-Fine” system, the more a driver is over a speed limit, the higher the number “day fines” received.

It is not the first speeding fine Wiklöf has been issued. He is reported to have previously been issued with a €63,000 fine in 2018 and, in 2013, he received a €95,000 fine — together amounting to a grand total of €279,000 over the last decade.

Other massive fines from Finland are former Nokia Boss, Anssi Vanjokki, who was issued a €116,000 for speeding on his motorbike, and Remia Kuisla, a Finnish businessman who was fined €54,000 for driving 64 mph in a 50 mph zone.

Wiklöf says he hopes the fine will be used positively.

“I have heard that they are going to save one and a half billion on healthcare in Finland, so I hope that the money can fill a gap there,” said Wiklöf.

Wiklöf, an Åland native, is ranked among Finland’s richest men. He is the chairman of Wiklöf Holding, his business empire that includes businesses in logistics, real estate and trade. It is estimated to be worth over $10 million.

According to the European Road Safety Observatory, drivers in Finland are “more supportive” for stringent legislation on speeding and drunk driving compared to their European counterparts.

The world-record speeding-ticket is currently held in Switzerland which has a similar “day-fine” system. Here, a total fine of $1,091,340 (3,600 Swiss franks per day for 300 days) was issued to a Swedish motorist caught driving 170 kilometers per hour (105 mph) over the speed limit.