The economist spoke about the non-proliferation of self-locking on loans for deposits and accounts

Self-locking on loans insures against fraudsters who take loans in the name of citizens, but it does not protect funds on deposits or accounts. Igor Balynin, an associate professor at the Financial University under the Government of the Russian Federation, said this on Friday, April 25.

"In particular, the self—lock does not protect funds held in a bank deposit or an account to which a bank card is linked," the economist said in an interview with aif.ru .

The expert recommended not to rush into making any financial decisions, especially when it happens according to the instructions given over the phone. You should not give access codes to strangers, follow questionable links, or install applications from unverified sources, he added.

"For objective reasons, self—locking cannot protect against such tricks," Balynin warned.

At the same time, the self-ban does not apply to a number of loans, the specialist recalled. We are talking about mortgages, car loans, educational loans, etc.

Credit of distrust: young Russians are being cut off from bank loans

Why has it become more difficult for clients under the age of 25 to get loans and what are the risks of them going to MFIs?

Earlier, on April 8, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, said that almost 9 million Russians took advantage of the opportunity to establish a self-ban on lending. 360.ru . She clarified that citizens are actively using mechanisms that can protect them from fraudsters, RT reports.