Labeling calls threatens to increase prices for financial services

Mandatory labeling of calls by companies can lead to higher prices for financial services. This was reported to Izvestia by the National Council of the Financial Market (NSFR).

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Banks criticized the principle by which the new norm will work. Now the draft stipulates that the transfer of information from a legal entity to an operator takes place on a contractual basis — in this case, labeling is paid for the initiator of the call, explained the head of the NSFR Andrey Emelin.

In such a situation, the cost of implementing a new service will be shifted to the business, which is often legally required to interact with customers. There are especially many such requirements for financial companies — banks, brokers, insurers, microfinance organizations.

"In general, this is a factor in the further acceleration of prices for financial services," warned Andrey Emelin.

At the same time, the Ministry of Digital Affairs told Izvestia that labeling would not affect individual subscribers and tariffs for them. However, they clarified that the issue of paid labeling will be further discussed with companies and telecom operators.

Starting from September 1, telecom operators will be required to notify subscribers about who is calling them. This will allow people to know for sure that they are being contacted from a real company, and not scammers who only pretend to be its employees.

The law on call labeling has already been adopted, but the documents regulating the details of the process are currently being finalized. The National Council of the Financial Market (NSFR) has prepared a response to the relevant draft government decree.

Read more in the exclusive Izvestia article:

Black budget: banks criticized the law on labeling calls