Finnish Financial Supervisory Authority identifies Instagram accounts with signs of illegal lotteries

The Financial Market Regulation and Supervision Service (Finnadzor) reported that it had identified online sweepstakes on social media with signs of illegal lottery activity.

According to the agency, during monitoring, Instagram accounts were identified that organized sweepstakes without permission and with the mandatory condition of purchasing goods or services. Such practices violate Kyrgyzstan's legislation and may mislead citizens by offering cars, cash prizes, and other expensive gifts.

The list of resources identified as illegal lotteries includes:

• wm_home_wear
• thebull.kg
• tectop.kg
• aliya_furs
• yesfit.studio
• stayfit.kg
• guli_koreakg
• asiagold.kg
• change_fitness_bishkek
• normpati.kg
• spine.center.bishkek
• itline.kg
• venom_computers
• wework_360
• putevka.kg
• aisha__jewerly
• mfit__studio

The Financial Supervisory Authority emphasized that these websites do not have permission to conduct lotteries, and their activities show signs of illegal draws.

The regulator reminds that the main signs of an illegal online lottery include the absence of official rules and terms, the requirement to transfer funds or make a mandatory purchase to participate, as well as promises of large prizes without legal grounds.

Citizens are advised not to provide personal data or money to organizers of dubious lotteries, to exercise caution when participating in social media promotions, and to report any signs of illegal activity to the Financial Supervisory Authority or law enforcement agencies.