In recent years, the digital transformation of society has promoted the digital upgrading of the financial industry. However, some criminals take advantage of the convenience of the Internet to place illegal financial advertisements through various channels to mislead and deceive financial consumers to participate in illegal financial activities. In order to effectively control the chaos of illegal financial advertisements, crack down on financial crimes, and protect the legitimate rights and interests of financial consumers, Airstar Financial (formerly Xiaomi Finance) popularized the financial knowledge of illegal financial advertisements and helped create a standardized, orderly, and benign interactive financial ecological environment.
Characteristics and manifestations of illegal financial advertising
1. Illegal financial advertisements are false. The falsity of illegal financial advertising refers to the fact that the products and services actually purchased by financial consumers do not match the content they advertise. For example, inflating qualifications, falsely claiming that they have qualifications recognized by the financial regulatory authorities, and misleading consumers; or falsification of information that cannot be verified, etc.
2. Illegal financial advertisements are misleading. Illegal financial advertisements often use promotional terms such as "high yield, low investment" to mislead financial consumers by emphasizing benefits and ignoring risks.
3. Illegal financial advertisements are hidden. Illegal financial advertisements are often promoted through channels that are highly concealed and have lax review of information release, evade financial advertising supervision, and imply business cooperation with formal financial institutions to confuse financial consumers.
How financial consumers can identify illegal financial advertisements
1. It is necessary to recognize the nature and harm of illegal financial advertising, improve the ability to discern, and consciously resist all kinds of **. Firmly believe that "pie will not fall from the sky", and when you see "the most valuable", "first", "biggest", "best" and "only" in the propaganda words, you should calmly analyze according to the actual situation to avoid being deceived.
2. It is necessary to cultivate the awareness of rational investment. High returns are often accompanied by high risks, and there are traps hidden in non-standard financial activities, so we should enhance our awareness of rational investment, correctly understand the relationship between risks and returns, and protect our own rights and interests.
3. It is necessary to enhance the awareness of risk responsibility. Funds and related interests involved in illegal financial activities are not protected by law. Therefore, when you see products such as high-interest deposits, bonds, and other products being peddled with high investment returns, you can compare the bank loan interest rate with the rate of return of ordinary financial products, and be vigilant against obviously high investment returns.
It is reported that on December 11, 2023, the State Administration for Market Regulation and the State Administration of Financial Supervision held a signing ceremony for the "Framework Agreement on Strengthening the Monitoring and Disposal of Illegal Financial Advertising Information", focusing on monitoring and early warning, research and judgment, joint guidance, legal popularization and publicity, and improving rules, etc., to comprehensively strengthen regulatory coordination, and give full play to the "outpost" role of financial advertising supervision in preventing and resolving financial risks and maintaining the order of the financial market.
In the future, Airstar Financial (formerly Xiaomi Finance) will continue to strengthen innovation-driven, strengthen the prevention of the source of financial contradictions, front-end resolution, and combine online and offline to popularize basic financial knowledge to financial consumers, spread positive financial energy, and build a solid security wall.