The Central Bank of Russia has developed and sent financial institutions an advisory Code of Ethics for Artificial Intelligence in Finance, setting out five high-level principles intended to guide the use of AI and support confidence among individuals and businesses. The Code centres on human-centricity, fairness, transparency, security, and responsible risk management. It includes customer-facing expectations such as informing clients when they are interacting with AI and giving them the option to refuse such interaction, alongside operational expectations to regularly assess AI quality, comply with personal data confidentiality requirements, and establish AI risk management. The central bank framed the Code as a “soft regulation” approach for the Russian market at its current stage and indicated it is ready to support the exchange of experience and best practices on implementing the ethical recommendations.
Central Bank of Russia 2025-07-09
Central Bank of Russia circulates an advisory Code of Ethics for AI in finance based on five principles
The Central Bank of Russia issued an advisory Code of Ethics for Artificial Intelligence in Finance, outlining five principles to guide AI use and bolster user confidence. The Code emphasizes human-centricity, fairness, transparency, security, and responsible risk management, with expectations for customer interaction and operational assessments. It is positioned as "soft regulation" to facilitate experience sharing and best practice implementation in the Russian market.