FAS INITIATED A CASE AGAINST SBERBANK PJSC ON THE GROUNDS OF VIOLATION OF THE ADVERTISING LAW

The bank distributed inappropriate advertising of financial services

Earlier, the FAS Russia received a citizen's complaint about Sberbank's advertising, which was distributed on advertising structures in Moscow. It indicated in large print attractive information for the consumer about the interest rate on the deposit of 12% per annum.

However, data on other conditions affecting the receipt of income on the deposit were placed in an explanatory footnote in a difficult-to-read type.

Thus, consumers received incomplete information about all the conditions that determine the amount of income of depositors.

The Service initiated a case in relation to Sberbank PJSC on the grounds of violation of the Law on Advertising.* In case of a violation, the bank will be brought to administrative responsibility in accordance with the Administrative Code of the Russian Federation.

It should be reminded that in May 2023, the FAS Russia imposed a fine on the bank for improper advertising of the loan.

Reference:

* Paragraph 2, Part 2 of the Article 28, Part 7 of the Article 5 of the Federal Law “On Advertising”