CB developed the concept of fraud in the financial market. Among the main reasons for unfair acts — the “peculiar mentality” of Russians, the inability to verify the counterparty and disadvantages of regulation
Photo: Alexey Zotov / TASS
The Bank of Russia has published the concept of fraud in the financial market. In it the regulator has listed the main causes of fraud and the standard of the scheme and proposed measures to combat fraud.
Prepared by the Central Bank concept for the insurance market, securities market, collective investment and trust management, and microfinance market. The fraud is by the regulator as broadly as possible, as any intentional act associated with cheating, breach of trust or omission in order to obtain benefits.
The Bank of Russia has established the short list of the main causes of fraud, which included five points: