The court ordered Raiffeisenbank to place counter-advertising due to a cashback promotion
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The court ordered Raiffeisenbank to place counter-advertising due to the spread of false advertising for the “Cashback on everything” promotion. About it reported The Federal Antimonopoly Service (FAS) of Russia, which in February filed a claim with the Moscow Arbitration Court.
As the FAS explained, the Raiffeisenbank advertising video used the statements “cashback on everything”, “cashback on everything without conditions and restrictions”, “1.5% in rubles, not points”. At the same time, disclaimers about the conditions and limitations of the financial product were placed in small print and were displayed for a short time.
The FAS recognized this advertising as improper, fined the bank, and also filed a claim with the Moscow Arbitration Court, demanding that Raiffeisenbank be obliged to carry out counter-advertising at its own expense. The court granted the claim; the decision was later supported by the courts of two higher authorities.
“In the counter-advertising, the company must indicate that the antimonopoly service has recognized the advertising of the debit cashback card as unreliable and cashback is not awarded for all types of transactions. Counter-advertising will have to be shown on air on the REN-TV channel for seven days in prime time once a day,” the service said. After the court decision is executed, Raiffeisenbank must submit a report on the placement of counter-advertising to the FAS.
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