Self-banning of loans in Russia will help fight fraud, but will not reduce it by 100%. This opinion was expressed in an interview with socialbites.ca by Olga Daineko, an expert at the Research Institute of the Ministry of Finance of the Russian Federation and the MyFinance.rf portal, commenting on the State Duma’s initial adoption of the corresponding bill. read.
“Theft and fraud using remote methods to obtain loans have already formed judicial practice, and it is easier to self-prohibit granting loans than to later prove your case in court. The introduction of such a tool will significantly reduce the likelihood of credit fraud, but not by 100%,” explained the expert.
He explained that there is still a risk that a person under pressure from a fraudster will lift the ban or gain access to a personal account on the government services portal.
According to him, self-banning of loans may also be necessary in case of leakage of personal data (for example, in case of loss of passport).
“To avoid worrying that a document or personal data will be used by criminals, you can quickly apply for a loan ban,” Daineko advised.
He added that self-ban on loans applies in cases where a person is not in Russia for a long time.
“It is difficult to quickly resolve problems that arise while abroad, to deal with creditors that suddenly appear, to prove your ignorance about someone’s loan, so it is easier to impose a ban while abroad,” Daineko said. .
Fourth, self-exclusion is necessary to eliminate the temptation to apply for a new credit product.
“If a person realizes that it will not be easy for him to refuse a new loan offer and that the implementation of this offer is impractical for practical and financial reasons, it is better to limit himself to a ban. If you have the motivation to get rid of reckless spending, you can do this. “With the ban, it will not be possible to purchase goods on credit or in installments through the bank,” he said.
The State Duma on Tuesday passed in the first reading a bill allowing Russians to self-ban loans through the government services portal available to the credit history bureau. According to the speaker of the lower house of parliament, Vyacheslav Volodin, anyone will be able to ban all types of loans and methods of granting them. Restrictions will apply to both banks and microfinance institutions. They can be removed if necessary. A bill on the right of Russian citizens to self-prohibit the issuance of loans was submitted to the State Duma on April 20, 2023 by a group of deputies led by Anatoly Aksakov, chairman of the financial market committee.
Previously 70 percent of Russians spoke for self-prohibition of loans and microloans.