FAS Russia Initiates Case Against Sberbank for Violating Advertising Legislation: Details on the Official Website

2024-02-27 07:49:00

The Federal Antimonopoly Service of Russia initiated a case once morest Sberbank due to suspicions of violating advertising legislation. This was reported on the official website of the department.

“The service opened a case once morest PJSC Sberbank on grounds of violation of the Law on . If a violation is established, the bank will be held administratively liable in accordance with the Code of Administrative Offenses of the Russian Federation,” says a message on the FAS website.

It is clarified that earlier the antimonopoly service received a complaint regarding Sberbank advertising placed on Moscow banners. It contained information in large print regarding the interest rate on the deposit of 12% per annum. “Thus, consumers received incomplete information regarding all the conditions that determine the amount of income of depositors,” the department emphasized.

Earlier it was reported that the antimonopoly service had initiated cases once morest Otkritie Bank. The reason was the financial institution’s violation of the advertising law.

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