List of entities with detected signs of illegal activities in the financial market

Using a specialised monitoring system, as well as based on peoples’ and organisations’ complaints, the Bank of Russia detects entities and internet projects having signs of unlawful activity.

In order to reduce the risks of people’s and organisations’ involvement in illicit activities, the Bank of Russia discloses the list of entities with signs of financial pyramids, illegal creditors, illegal professional securities market participants (including illegal forex dealers), and other illegal financial market participants. The list does not contain any data on individuals or individual entrepreneurs.

To be authorised to provide the majority of financial services in the Russian Federation, a market participant must be licensed by the Bank of Russia or put on the regulator’s register. This information can be verified in the Directory of Financial Institutions. If an entity is not in the Directory, it is most probably acting illegally and consumers might be deceived.

To deter unlawful financial activities, the Bank of Russia takes measures to block such entities’ websites as well as cooperates with law enforcement and other authorised agencies and with foreign regulators to implement other measures.

An entity put on the list has the right to challenge this.

Please be informed that Russian laws do not provide for any payments to be made by the Bank of Russia to the victims of illegal market participants or for the regulator’s direct intervention in civil law relations between illegal financial service providers and their customers.