In search of a loan with very tempting conditions, you may encounter financial fraudsters. For example, you may be contacted by a manager of a bank or a microfinance organization (MFO), which does not exist at all.

Through the mobile application "Fingramota Online", the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (hereinafter referred to as the Agency) received a question from the user whether the organization he encountered was fraudulent. He said that he applied through the websites of financial organizations for an online loan. And an "online lender" called him, who informed him about the approval of a loan in the amount of 300 thousand tenge, but in order to receive money, he demanded to transfer 60 thousand tenge to the card, allegedly for insurance against possible delay. According to the "manager" of this "credit" organization, the money will be transferred to a card, which will subsequently be given to him as a client, and will be delivered by courier soon. Apparently, the user suspected something was wrong, he found out that the online lender is not included in the official register of the financial regulator.

How to bring credit fraudsters to the surface?

Attackers can hide behind employees of second-tier banks (STB), MFIs. Most often they use the names and logos of large and well-known financial organizations, but, as it turned out, the scammers came up with other schemes of deception. They get in touch with clients on behalf of unknown, or rather fictitious, financial structures. These are the so-called ghost creditors. In the CIS countries, this type of fraud became widespread during the pandemic.
The ghost lender has its own page on the Internet, and a phishing one. Sometimes the contacts of an organization can even be indicated on a fake site, drawn certificates and licenses are placed, and the design of a web page can be developed quite competently, without visible grammatical errors and with high-quality layout. Despite this, it is quite easy to figure out such scammers.
You need to open the Agency's website www.gov.kz , the section "Financial markets" and further "Banking sector" or "Other financial organizations" – it depends on which organization contacted you, from a bank or an MFI. The section "Registers of permits and notifications" contains a list of credit institutions that operate legally in Kazakhstan and have the appropriate license from the financial regulator. This means that, in case of violations on their part, consumers of financial services can apply for protection of their rights to the Agency, where they will definitely be helped.
Therefore, when making important decisions related to money, you need to take a break. You should not rush and follow the instructions of pseudo-employees of financial organizations. It is better to double-check everything and get advice from the Agency by contacting through the mobile application "Fingramota Online" or through the call center at the short number "1459" (toll-free).
Scammers use social engineering methods, so some people lose their vigilance when interacting with them and can report their personal and payment data, transfer money to these cards, or download various applications, thus giving attackers remote access to their gadgets.

What other schemes are used by credit scammers?

Ghost lenders are one of the new ways of fraud that has not yet become widespread. There are also other schemes that some citizens have already encountered – these are "black lenders" or credit intermediaries. Most often they offer services for registration of "preferential online loans", "microloans with a low interest rate", "honest loans without overpayments". It does not matter to them whether the borrower has a bad credit history, what his income level is, whether he is officially employed, whether he eats pension contributions. The victims of such scammers are those who are in search of "profitable" loans, urgent and easy money to borrow.
Those borrowers who already have existing loans may face another "cohort" of scammers – they offer to take on obligations to pay for the loan themselves. To do this, the borrower needs to pay only a part of the total loan amount – from 10 to 40%. For example, if a borrower has a loan debt in the amount of 300 thousand tenge, then paying only 50 thousand tenge to these persons, he will allegedly repay the entire loan amount. The scammers argue that they have connections in banks and MFOs, or they work there themselves, or they have various actions to partially write off the debts of regular customers.
Credit intermediaries send a message to the client on a mobile phone through special number substitution services that the loan has been repaid. Or they can request an additional amount of money, allegedly necessary for further resolution of the issue: payment of commission for early repayment, insurance, card delivery, etc. Fraudsters may also ask the borrower to provide an SMS code, in their words – "to confirm the loan transfer procedure." But in fact, this is a code that is sent by remote services of financial organizations issuing loans to confirm identity. By handing it over to scammers, you give them the key to your mobile banking, which means access to your money.
Sometimes fraudulent creditors can actually transfer money to your account without requesting prepayment. But there is also a danger here if you use this money. Because after a while, a demand from a real bank, MFI or collectors to repay the debt may "arrive". The fact is that the scammers managed to issue a loan in your name, and by withdrawing money, part of it, or making a money transfer, you thereby confirm that you have used the loan.
In addition, "black lenders" may offer to clean up the information contained in the borrower's personal credit report for a nominal fee, allegedly removing information about delinquencies and other information from it at the request of the client. To do this, attackers request confidential data of their victim, including payment card details. Taking advantage of the ignorance of borrowers, scammers claim that the credit history is stored for only 5 years, and all loans earlier than this period are automatically deleted. Having received the necessary information, fraudsters gain access to all bank accounts, and with the help of online banking, they issue large loans to their "client".

Know! There are no intermediaries between clients and STB, MFIs who can help with the registration of a bank loan or micro-loan, there is no such thing! These are scammers who, having got your money, turn off the phone and disappear. Never apply for financial services that involve prepayment. Do not give anyone a monetary reward for making a loan and do not pass information about yourself and your card to outsiders.
As for the credit history – yes, since 2022, when requesting a personal credit report from a credit bureau, information for the last 5 years is displayed (previously it was 10 years). However, this does not mean that delays made, for example, 15-20 years ago, will be canceled. They will be displayed in the full version of the credit report, which credit bureaus are required to provide at the request of borrowers, as well as banks, MFIs, collection agencies and others. Keep in mind that financial institutions and other organizations can request your credit history only with your written consent. Check your credit history regularly – this is the only way you can find out about fraud and, accordingly, respond promptly.

Only scammers offer for a certain amount:

– make a loan with a credit institution and transfer part of the funds received to intermediaries who will pay for the loan instead of you;
– write off all debts on all your bank loans and micro-loans;
– assistance in obtaining an unsecured loan at a low interest rate with mandatory prepayment (in advance).

What should I do if you have become a victim of credit scams?

Write a statement to the police and get a resolution recognizing you as a victim.
If you have transferred your personal and payment data to fraudsters, then you need to immediately block your card, reissue a new one and change your documents. It is also advisable to change passwords in all your accounts and personal accounts: in mobile banking, email, social networks. If you have downloaded a questionable application, you need to delete it immediately and reset the data to the factory settings.
If you received the money by mistake, then you should not transfer it yourself. Contact the bank branch, write an application so that the bank itself transfers the money to the addressee.

Be always vigilant and careful, follow simple security rules to protect your funds from intruders and not become a hostage of "someone else's" loan.

Postfactum.kz from Fingramota.kz