Fraudsters take online loans for unsuspecting Russians

Russians who do not check their credit history can become victims of schemes where loans are requested in their name, said Alexandra Pozharskaya, an expert with Russian Popular Front’s Borrowers Rights project.

Konstantin Mikhalchevsky / RIAN

According to Alexandra Pozharskaya, anyone’s passport details are easy to find on the internet today. The identity of a borrower requesting a loan online is verified using a simple digital signature.

Fraudsters apply for loans using stolen passport details and burner phones with SIM cards that cannot be tracked to anyone, Pozharskaya explained quoted by Radio Sputnik. Consequently, their victims remain unaware that they have any outstanding loans and can suddenly find themselves barred from travelling abroad over unpaid debt.

Pozharskaya advised everyone to regularly check their credit history and immediately report any loan they have never applied for to the police.

Invest Foresight previously reported another scam where fraudsters take advantage of people who apply for mortgages. They create fake websites offering respective services and steal people’s money.

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