In the first quarter of 2025, the Bank of Russia received nearly 95,000 complaints from financial consumers and investors, marking a 23.6% increase compared to the same period last year. The report highlights varying trends across different financial sectors.
Complaints about insurance saw a significant decrease of 44.6%. This decline is attributed mainly to changes in how customers contest the bonus-malus coefficient (BMC) related to compulsory motor third-party liability insurance. Customers can now independently verify their BMC on the National Insurance Information System website and request recalculations if necessary. Additionally, complaints regarding accident and health insurance as well as life insurance also decreased.
The number of complaints concerning professional securities market participants dropped by 27.5%. Investor grievances related to asset management difficulties due to sanctions fell sharply, declining fourfold.
In the non-governmental pension funds (NPFs) sector, there was a 31.4% reduction in complaints regarding transitions between NPFs or from the Social Fund of Russia to NPFs.
Complaints about lenders touting paid services with loans continued their downward trend, decreasing by 42.2%. Since last year, lenders have been required to inform borrowers about purchased services and notify them of their right to reject these within 30 days.
However, there was an uptick in complaints related to banks and microfinance organizations (MFOs). Complaints against banks rose by 36.8%, largely due to increased suspensions of remote banking services aimed at countering fraudulent transactions following new regulations introduced in July 2024. Banks confirmed that most RBS blockings were due to fraudulent activities.
Meanwhile, MFO-related complaints increased by over 10%. Issues included difficulties in returning money after rejecting additional services and unauthorized loan issuances. Some clients demanded debt recalculations based on social media recommendations.
