Belgian authorities audited 113 credit ads: 30% were non-compliant
In 2024, Belgian authorities audited 113 credit advertisements. Nearly one in three was non-compliant. Most audits targeted broker websites.
The 2024 activity report of the Directorate-General for Economic Inspection at the Belgian Federal Public Service (FPS) Economy contains a figure that should concern every credit broker: out of 113 advertisements audited, nearly 30% were non-compliant. And the majority of audits targeted professional credit intermediaries, not banks.
What the authorities check on your website
The Economic Inspection conducted 8,536 investigations in the financial services sector in 2024. Of these, 113 specifically concerned advertising for consumer credit and mortgage credit. The results: 34 companies in breach, 32 warnings, and 3 official reports.
Here are the three main points verified on broker websites.
1. Mandatory advertising disclosures
If you display an interest rate, an APR, or a monthly payment on your website, you are subject to the obligations of Article VII.64 of the Belgian Code of Economic Law. Every advertisement mentioning figures must include a complete representative example: APR, duration, borrowed amount, monthly payment, and total amount due.
For consumer credit, an additional obligation applies: the slogan "Warning: borrowing money costs money too" is mandatory on all advertising, even if no figures are mentioned. This obligation stems from Article VII.64(2) of the Code of Economic Law. It does not apply to mortgage credit.
60% of the advertisements audited in 2024 concerned consumer credit. The remaining 40% related to mortgage credit, with audits mainly targeting professional credit intermediaries, where 2 breaches were identified.
2. The complaints procedure
The FPS screened the websites of 33 mortgage credit brokers to verify three elements: the internal complaints handling procedure, visible contact details, and a referral to Ombudsfin. If any of these three points is missing, you are in breach of Book XVI of the Code of Economic Law.
The good news: in 2024, brokers flagged on this point were able to correct their website upon simple request, without warnings or official reports. But this leniency is at the inspector's discretion. Next time, it may be an official report.
3. Prohibited practices
Article VII.65 of the Code of Economic Law lists prohibited advertising practices. "Guaranteed credit", "no verification", "immediate response": all these formulations are prohibited. Using your FSMA registration as a commercial argument is also prohibited.
These checks are performed remotely: the FPS screens websites directly. No physical visit is needed to identify a breach.
The checklist for your website
Here are the essential points to verify on your credit broker website:
Identification details: name, legal form, BCE number, VAT, address, FSMA registration.
Mandatory slogan (consumer credit): "Warning: borrowing money costs money too".
Representative example: if you display rates or figures, all mandatory disclosures must be present (APR, duration, amount, monthly payment, total amount due).
Complaints procedure: internal procedure, contact details, referral to Ombudsfin.
Remuneration transparency: nature of your remuneration (commissions, fees, or mixed).
For brokers using BrokerWeb, these mandatory disclosures are built into the website structure and updated automatically. Your website's compliance is not a one-off project: it is an ongoing process that your tool should handle for you.
