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Individuals send 500 reports of violations of consumer rights via fast reporting service

7 October 2025
News

Following these reports, the Bank of Russia has conducted over 20 test purchases at 14 financial institutions.

The fast reporting service for sending information about potential violations of consumer rights by financial institutions was launched in June 2025. This information helps make the financial services market more transparent and consumer-focused.

Most violations were related to providing misleading information or giving inappropriate advice. For example, bank clients were told that a consumer loan could not be obtained without buying insurance or were given a distorted name of an additional service bundled with a loan to disguise its true nature. Insurers unreasonably refused to conclude compulsory motor third-party liability insurance contracts with motorcyclists.

The Bank of Russia has taken supervisory measures against financial institutions where violations were confirmed and has referred some reports to other authorities according to their mandates.

Preview photo: Sergey Mironov / Shutterstock / Fotodom