The Consumer Rights Protection Center (PTAC) has made a decision in the case of violation of the collective interests of consumers, imposing a legal obligation on SIA “Finanza” to end unfair commercial practices, disguising advertisements intended for the consumer audience as lending advertisements for economic operators, and imposing a fine of 10,000 euros, informs PTAC.
Content will continue after the ad
Advertising
PTAC evaluated the commercial practices implemented by SIA “Finanza” and initiated an administrative case against SIA “Finanza” for monitoring compliance with regulatory acts in connection with the distribution of inappropriate lending advertisements on television, creating advertisements in such a way as to try to circumvent the ban on lending advertisements and promoting irresponsible borrowing.
During the examination of the case, the PTAC established that, when distributing credit advertisements, SIA “Finanza” does not comply with the restrictions on the distribution of advertisements set forth in Article 8.3 of the Law on the Protection of Consumer Rights (PTAL), thereby violating the requirements set forth in the Law on Advertising and the Law on the Prohibition of Unfair Commercial Practices.
Although in the advertisements of SIA “Finanza” it is stated that it is an offer for those performing economic activities, PTAC concluded in its Decision that the overall visual design and message of the advertisement is aimed directly at satisfying the needs of the consumer, namely the purchase of consumer goods and payment of bills through the lending service.
The PTAC concluded that the real target audience of the advertisement is not only economic activity performers, but mainly consumers, therefore the restrictions of consumer lending advertising regulatory acts have been violated, and SIA “Finanza”, by distributing such lending advertisement, which in general invites any consumer to receive loans for consumer goods for purchase or bill payment, can significantly affect the behavior of the average consumer, irresponsibly making a decision and leading to ill-considered credit obligations.
It should be recalled that with the aim of protecting the average consumer, the amendments to the PTAL of October 4, 2018 established the protection of the consumer and his economic interests, providing for a general ban on consumer credit advertisements, while allowing certain exceptions.
The advertisement of SIA “Finanza” was distributed on several television channels with a large number of playbacks per day, thus the advertisement was aimed at reaching a wide range of consumers.
Taking into account the duration, circumstances and nature of the violation, as well as the amount of advertisement distribution and the fact that the advertisement was created with the aim of circumventing the advertising restrictions of consumer lending, and the fact that SIA “Finanza” does not admit its guilt in the implementation of commercial practices inconsistent with professional diligence, PTAC concluded that SIA ” The violation committed by “Finanza” is considered a serious violation, thus the total amount of the fine for SIA “Finanza” is EUR 10,000. In addition, PTAC prohibits foreseeable unfair commercial practices, namely disguising advertisements intended for the consumer audience as lending advertisements for economic operators and promoting irresponsible borrowing.
Content will continue after the ad
Advertising
2023-07-03 07:31:15
#PTAC #fines #SIA #Finanza #EUR #instructs #unfair #business #practices
