Online advertising in Russia may become tougher

Publication date: 30 Jul 2021

Russia proposes to tighten the rules of online advertising: it is necessary to protect Russians from fraudsters. Such an initiative was taken by Evgeny Nifantiev, a member of the Social Forum of the Russian Federation.

According to him, advertisements with disputable content about remittances with a large cash back periodically appear on the Internet. At the same time, it is accompanied by a request “to follow a link and fill out a form with the data of the bank card, including a three-digit code of its authenticity verification”.  Thus, fraudsters obtain the data of citizens’ bank cards and use them for criminal purposes. In particular, such ads are most often seen on YouTube and Instagram.

Evgeny Nifantiev further clarifies that only financial organizations that have a banking license show their advertising on television.  It is proposed to apply this practice to the online advertising of financial services in order to put a fraud filter. In other words, to advertise any financial institutions and operations on the Internet a banking license will be required.

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