The Bank of Russia announced on May 8 that it received 102,100 complaints from financial consumers and investors during January to March 2026, marking an increase of 8.1% compared to the previous year. The regulator said most of this rise was due to complaints outside its jurisdiction, while those within its remit decreased slightly by 0.3%.
The report shows a decline in complaints against credit institutions, particularly regarding mortgage lending, cyberfraud, and authorized fraud where individuals are deceived into giving money or confidential information. These categories saw decreases of about 30%, 40.9%, and 43.3% respectively. The Bank attributed these improvements to antifraud measures taken by both the regulator and banks. However, complaints about refusals to conduct transactions or suspensions of remote banking services increased by 45.2% compared to the first quarter of the previous year but dropped by 12% relative to the last quarter.
Insurance-related complaints also fell by nearly one-fourth, with life insurance issues—mainly investment life insurance—declining by 41.5%. Consumers mostly raised concerns when they disagreed with investment income amounts or when insurers missed deadlines or failed procedures for paying compensation or refused additional returns.
In contrast, there was a significant surge—over 47%—in complaints against microfinance organizations (MFOs). Most were related to refunds for additional services and debt management problems such as MFOs not providing necessary documents for verifying interest accrued or outstanding debts. The Bank noted that some so-called debt relief companies contributed to this rise.
“We can see abuse by a number of bad faith companies promising their clients to write off their debts without any consequences. However, in reality, they either disappear immediately after having received their fees or provide standard documents that a person could have prepared on one’s own. Such ‘help’ only aggravates the borrowers’ situation in many cases,” said Mikhail Mamuta, Head of the Service for Consumer Protection and Financial Inclusion at the Bank of Russia.
Mamuta continued: “In order to protect individuals, the Bank of Russia, jointly with financial market participants and bona fide legal companies, is exploring the issues of standardisation and regulation of debt relief companies’ activity. We believe it critical to establish clear and transparent rules in this area that would regulate the work with people who have overdue debts and apply for advice regarding bankruptcy.”
Complaints related to non-governmental pension funds dropped significantly as well; those involving disagreement over transitions from the Social Fund of Russia or between funds fell by more than forty percent while grievances concerning unit investment fund management nearly halved.
According to the official website, the Bank of Russia manages cash circulation totaling approximately 18.6 trillion rubles as part of its role as sole issuer of Russian currency; it operates independently under federal property law with leadership comprising a governor and deputy governors supported by specialized departments; it aims for financial stability through competition; finally it provides public access through official reports.