Ural Federal District: Loan Fraud Losses At 1.07bn RUR

25 May 2017 (13:02)

UrBC, Moscow, May 25, 2017. Ural Federal District-based banks closed over 1.078bn RUR in loan fraud last year, United Credit History Bureau’s press service reports.

The Bureau’s analysts calculated the banks’ losses resulting from fraudulent actions in 2016. Loan frauds were classed as such if not a single repayment was made within four months of the issuance.

34,428 such loans got issued in Ural Federal District last year, which amounted to 1.46% of all the loans issued in the area. This is 19% more than in 2015, with the average loan amount at 31,323 RUR.

In Russia on the whole, 334,000 loans (1.3% of the entire amount) turned out to be frauds last year, with banks incurring 13.67bn RUR in resulting loss. This is 33% more than in the previous year, with the loss amount up 1% on the year 2015.

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