• 12 Neglinnaya Street, Moscow, 107016 Russia
  • 8 800 300-30-00
  • www.cbr.ru
What do you want to find?

Types of illegal operations in the financial market

To be allowed to provide the majority of services in the Russian Federation, a market participant shall be licensed by the Bank of Russia and put on the relevant register kept by the regulator. If an entity fails to comply with these requirements, it is most probably acting illegally.

Fraudsters use illicit schemes to deceive people, offering high returns on investment, loans at extremely low interest rates, and other seemingly profitable deals. However, any deals with them involve financial losses.

To protect consumers and ensure fair competition, the Bank of Russia detects financial pyramids and unlicensed operations in the market. The regulator sends the information on such entities, projects, and individuals to the competent authorities and initiates measures to block access to their websites.

The Bank of Russia also publishes the List of entities with detected signs of illegal activities in the financial market to promptly notify people of the risks and prevent potential losses that might be caused by illegal operations. Besides, the data on the list are transmitted to the Know Your Customer platform so that banks could take this information into account when assessing risk profiles of their clients and counterparties of the latter.

A final legal opinion about operations of such entities is given by the competent authorities.

Please be careful and do not let anyone trick you into any illicit schemes. An organisation shall have all required documents and licences. This information can be verified in the Directory of Financial Institutions.

Use only official websites of financial institutions. Legal companies’ websites have a verification mark (a blue circle with a tick) in Russian search systems. A legal market participant’s website should contain all necessary information about the company, its licences, and the services it offers.

Types of illegal operations

Frequently asked questions

Department responsible for publication: Non-bank Lending Department
Was this page useful?
Last updated on: 09.10.2023