Experts saw risks in the process of launching self-locks on loans
On March 1, the self-locking functionality for loans is launched in Public Services. Every citizen who has a verified account on the portal and a TIN can apply for voluntary withdrawal from consumer bank loans and loans to microfinance organizations (MFIs). However, on February 28, the Ministry of Finance did not demonstrate in which section the function could be found and what the process would technically look like. The start time is also unknown.
Experts saw significant risks in this. In addition, they told Izvestia about the "pitfalls" of applying the law on voluntary withdrawal of loans.
Problems may arise in the technical part, as is often the case with new functions on the portal, especially if a large number of people try to use them on the first day, predicts Alla Khrapunova, expert of the Popular Front for Borrowers' Rights project, curator of the Moshelovka platform.
"In our forecast, we warn citizens that scammers are already embedding the topic of self-locking loans in their legends. And we predict that in March, phone scammers will introduce themselves as employees of Public Services and offer help in connecting a self-lock. They will lie that self—restraint has been imposed on the victim, that it is necessary to repay all obligations ahead of schedule and offer assistance in lifting the self-lock," Khrapunova said, adding that all this is in order to receive the code from the SMS.Nikolay Filippov, Director of Risk Methodology and Data Analytics at the United Credit Bureau (OKB), also stressed that a voluntary waiver imposed on loans from MFIs would block the client's access to installments on marketplaces or in hypermarkets. According to him, it is microfinance organizations that have occupied the niche of commodity lending.
Read more in the exclusive Izvestia article:
There is no loan either: experts saw the risks in the process of launching a self-ban on loans
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