The Federal Antimonopoly Service (FAS) of the Russian Federation opened another case against Alfa-Bank for violation of advertising legislation, the agency said in a statement.
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The advertisement stated that the customer would be awarded points for opening an account. At the same time, the information that the promotion is valid only when opening the first account was placed in an explanatory footnote in small print for a short period of time.
“In the video, the JSC Alfa-Bank product was presented as the “best loyalty program.” The objective criteria for comparing the service were also briefly stated in an explanatory footnote in small print,” the report says.
The FAS considers that such actions by a credit institution may mislead consumers and contain signs of violation of the advertising law.
The agency will evaluate the bank’s video for violations. If guilty is found, Alfa-Bank will receive a fine.
This is the fifth illegible footnote case that the FAS has opened against Alfa-Bank in recent months.
In February 2024, the FAS opened proceedings against Alfa-Bank due to illegible footnotes in an announcement about the abolition of acquisition fees. In November of last year, the department opened a case over illegible footnotes in credit card advertisements and loan advertisements, and in December over illegible footnotes in an advertisement for annual card use without interests.
Author:
Anastasia Marina
Source: RB
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