In April, Russia enacted a law tightening antimonopoly regulations in order to protect FIFA's commercial rights, with any unauthorized use of the World Cup branding giving grounds to initiate a case against violators.

"The Moscow office of FAS has initiated a case against Raiffeisenbank... The bank is suspected of violating... the law on the preparation and holding of the 2018 FIFA World Cup in Russia," FAS said in a statement.

According to the statement, the bank offered discounts in St. Petersburg and Moscow bars and restaurants during the 2018 World Cup on its website, using images of fans, footballs, flags and a person drinking beer in its advertisements.

The bank also launched a limited-time campaign saying it will give 1,000 airline miles for each goal Russia scores at the World Cup to customers who open a debit card at the bank and used an image of a cup resembling the FIFA World Cup in their ads on Instagram.

Russia is currently hosting its first-ever FIFA World Cup, with the final set to be played on July 15.