On the activities of Crocus Financial Group

The Bank of Russia keeps on receiving applications concerning the activities of Crocus Financial Group. The company offers services to repay household debts to banks for a compensation. Crocus Financial Group raises household funds and concludes servicing contracts on behalf of Crocos, a closed joint-stock company. However, neither the Single State Register of Legal Entities nor the State Register of Microfinance Organisations has any data about this company.

Meanwhile the State Register of Microfinance Organisations contains data on the company with the similar name of Crocus, a closed joint-stock company (State Registration Number 1137746230820).

Given the situation, there are evident signs of a delusion of consumers as regards financial services and a possible fraud. Households sign contracts with a fictitious legal entity. The similarity of names is used to instill their confidence. The Bank of Russia together with the respective competent bodies are currently working on the situation.

In view of the above, the Bank of Russia insistently recommends that households should abstain from concluding contracts with the Crocos company and organisations offering similar services.

The reference to the Press Service is mandatory if you intend to use this material.

02.04.2014 00.00.00