Russian bankers, fraudulent contracts, and copywriting

True story:

Back in 2008, a Russian man named Dimitry Agarkov got the world’s best credit card deal.

Initially, Agarkov got an offer in the mail for a credit card from an online outfit called Tinkov Bank.

Agarkov read the contract, and was shocked that the interest rate was 45%. Not very attractive. So he scanned the contract into his computer and altered the terms.

0% interest.

Unlimited balance.

A fine of 3 million rubles (around $100K at the time) every time the bank failed to play by these rules.

A fine of 6 million rubles if the bank tried to cancel the contract.

Agarkov then printed out his slightly altered contract, signed it, and mailed it in to Tinkov Bank. The contract was promptly accepted, and Agarkov got his credit card, 0% interest and all.

This shows you just how much people love to read boring-as-beans stuff.

It’s easy to not pay attention even when it’s your job and big money is on the line.

So what to do? Well, all the standard copywriting and marketing advice applies:

Repeat your message often.

Don’t take it for granted your audience hears you.

Keep it simple.

Keep it easy on the eyes.

Tell stories instead of using legalese.

Anyways, back to the story of Dmitry Agarkov:

Tinkov Bank challenged him in court. But no soap. The court upheld Agarkov’s contract, because it was in no way fraudulent.

Agarkov then sued Tinkov Bank for 24 million rubles, about $700K at the time, for not honoring the contract and breaking the agreement.

The suit was eventually withdrawn, because Agarkov said the joke had gone too far. That, plus the veiled threats from the owner of Tinkov Bank made him fear for his life.

Can you make veiled threats to your own customers to get them to buy? No? Then better try the softer kind of persuasion like I listed above. And if you want my input on how to do that, simply fax me a contract. Or just write me an email.