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Study shows that half of borrowers do not check the legitimacy of lending institutions

Photo by Rui Alves on Unsplash

This is reported by “Izvestia”.

One tenth of all respondents (11%) had previously fallen victim to illegal lenders when they took out a loan without checking the organization’s license.

At the same time, 39% of respondents said that they always check the potential lender. 28% of them check the license of the credit organization on the website of the Central Bank, and 11% only read the reviews.

Experts found that the largest increase in the number of illegal financial institutions is happening on the Internet. And the majority of clients of microfinance organizations (MFI) take loans online. According to the Central Bank, in 2022 the portfolio of loans issued by MFIs online increased by 53%.

Earlier Sergey Gavrilov, chairman of the State Duma Committee on Property, Land and Property Relations, a member of the National Financial Council under the Bank of Russia in a conversation with FBA “Economy Today” told details about the technology for contactless payment cards.

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