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Every country has a different set of regulations when it comes to speed limits, and they vary from very moderate, to extremely high. In the United States, the state of Virginia is known as one of the most severe when it comes to punishing speeding drivers. According to Nerd Wallet, a speeding ticket in Virginia can set you back hundreds or even thousands of dollars. Though they only charge $6 per mile over the limit, there are some pretty hefty administration and base fees that can quickly add up. Not to mention, with just one speeding ticket issued, your car insurance rate is estimated to shoot up at least 20%.

In Norway and Finland, the penalties are issued according to annual income. To discourage speeding, the Scandinavian countries fine up to 10% of annual income for a speeding ticket, and up to 18 days in jail for an offense. This can mean a fine of $10,000 if you have an annual income of $100,000. Definitely not a small penalty!

While some speeding tickets are the result of innocent carelessness, many people push the limits with their need for speed.

RELATED: Google Maps Can Now Help You Avoid Speeding Tickets

$12,000 Fine For A Canadian Motorcyclist

While a $12,000 fine doesn't seem shocking in relation to the rest of the hefty fines on this list, it was one of the highest Canadian speeding fines issued. In 2008, a motorcyclist was stopped in the province of Alberta, when he was driving 163mph, in a 68mph zone. Though the maximum fine for speeding in the province of Alberta is $25,000, the judge accepted a plea by the driver, who did not get his license revoked, but was made to pay a $12,000 fine. The incident became the talk of the country, as speeding fines rarely exceed over a few hundred dollars in Canada.

$103,000 Fine For Finnish Motorcyclist

In 2002, Nokia director, Anssi Vanjoki, was issued what was then the highest speeding ticket ever written, according to BBC News.  The Finnish businessman was stopped in Helsinki, while driving 47 mph in a 31mph zone, on his Harley Davidson. While the $103,000 fine seems hefty, it was calculated as a percentage of Mr. Vanjoki's annual income. The controversial ticket was contested, and the perpetrator ended up getting the fine reduced by over 95%. Needless to say, the entire situation was not the greatest press for the Nokia brand, who were simultaneously losing consumer interest, due to their lack of innovation in the tech age.

$290,00 Fine For Swiss Ferrari Driver

The Swiss are also quite strict when it comes to punishing speeding offenders. In 2010, the highest fine for speeding in the country was issued to a Swiss millionaire who was caught driving 85mph in a small village. The perpetrator who was driving a red Ferrari Testarossa, had an estimated net worth of $22.7 million dollars, which was taken into account when the fine was being calculated by authorities, according to BBC News. The man was also a repeat offender, which led to him being fined an incredible $290,000. The Swiss are very serious about following the rules, so it's definitely not advised to drive faster than the limit in this small Alpine country!

$1,000,000 Fine For Swedish Driver Speeding In Switzerland

The highest speeding ticket on record was also issued in Switzerland. In 2010, this record-breaking penalty made international headlines. The Swedish driver, 37 at the time of the incident, was driving a Mercedes SLS AMG, which had a disconnected speedometer. Clearly, the driver was aware of the fact that he was going way too fast; police in the Canton of Vaud clocked his speed at over 125mph, which meant that he was going driving 105mph over the speed limit! Due to the extreme disregard for the speed limit, the Swede faced the absolute maximum penalty, which equated to 300 days of fines, at $3,600 per day, according to Swiss Info.  While being slightly over the limit is one thing, speeding through the streets at 125mph over the limit is considered a very criminal offense. The disregard for safety and the potential for causing a very serious incident were all taken into account when the ticket was issued.

Speeding can have some pretty serious consequences. While it can be thrilling to drive fast from time to time, there are speed limits in place for a reason! Keeping everyone on the road safe (especially children and babies!) should always be a priority when getting behind the wheel of any motorized vehicle.

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SOURCES: Nerd Wallet, BBC News, BBC News, SwissInfo