124,000 Loan-Related Frauds Traced in Q2’16

31 August 2016 (09:18)

UrBC, Yekaterinburg, August 31, 2016. There were 124,000 cases of fraudulently issued loans in the country in the second quarter of 2016, National Credit History Bureau reports.

This comes to 1.7% of all the loans issued to borrowers in the second quarter of the year; in the first quarter, the share was at a two-year high of 4.3% (267,100 loans all in all).

‘Thanks to its unique partner companies database which comprises all the banks and other possible creditors, National Credit History Bureau proved a very effective actor in preventing loan frauds. As all the lending market players are gradually joining the system, retail loan frauds will eventually become pointless and stop affecting the market altogether,’ says the bureau Director-General Alexander Vikulin.

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