MOSCOW, May 20 (RAPSI) – The Federal Antimonopoly Service’s Moscow directorate has opened a case against Otkritie Bank on suspicion of inappropriate advertising, the watchdog’s statement reads.

According to the watchdog, the bank distributed SMS messages proposing a 2-million-ruble (over $30,000) loan under special provisions. However, the ads had no information about the service itself and its conditions.

The antimonopoly service found violation of three provisions of the advertising law by Otkritie. The case will be heard on June 12.

The bank could face fine of up to 800,000 rubles (over $12,000) if found guilty.