The propensity for fraud in Russia is explained by specific mentality

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Photo: Alexander Koryakov / Kommersant

The Bank of Russia formed a list of the main causes of fraud in the financial market. In particular, there came a point as “specific mentality” consumers.

Under the fraud the regulator understands any intentional act associated with cheating, breach of trust or omission in order to obtain benefits.

The document notes that the Russians are very tolerant to financial abuse. As an example, the Central Bank cited last year’s survey in which only five percent of Russians considered that overstate the amount of claims the insurance company is unacceptable under any circumstances. Also, according to experts, the Russians brings the low level of financial literacy.

Among other reasons for the occurrence of fraud, the regulator highlights the shortcomings of legal regulation, unreliability of information used for decision-making, concealment of financial institutions of information about the real state of assets and the difficulty of identifying crimes in the financial market.

Earlier it was reported that the financial pyramid”, Cerberi” announced the termination of work. The head of the Department for combating unfair practices of the Central Bank Valery Lyakh estimated the damage from the activities of the organization at three billion rubles.

Video, photo All from Russia.

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