The Central Bank of the Russian Federation has updated the basic standard for a microfinance organization (MFI) to conduct transactions in the financial market. Getting a loan remotely will become more difficult, but there will certainly be fewer frauds in this segment.
Updated standard obliges MFIs, when applying for microloans remotely, to verify the identity of the borrower by at least three parameters out of 10 recommended.
Thus, MFIs must check whether the passport of a potential borrower is valid, whether the photo in it is genuine, whether the information from the credit history corresponds to that provided by the potential borrower, whether the potential borrower uses the mobile phone number indicated by him and the account to which the money will be transferred. In addition, to identify the identity of a potential borrower, MFIs may ask some control questions, the composition of which should change by at least a quarter every three months.
The new requirements of the Central Bank will come into force only in three months, so we can expect that the activity of fraudsters in obtaining loans online using other people's personal data will increase. Therefore, now citizens should increase their vigilance so as not to become a borrower involuntarily.
Moskovskaya Pravda collage