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- Keep your face: to get an online loan, you will have to verify your identity using biometrics
The Central Bank supported the idea of introducing mandatory biometric identification when issuing microloans online. This is one of the initiatives included in a large package of anti-fraud amendments, which they want to consider in the first reading on March 18. The measure will reduce the number of crimes when intruders apply for microloans using other people's personal data, the office of Deputy Prime Minister Dmitry Grigorenko told Izvestia. However, technical improvements will be required, so the measure should be introduced with a time lag and, possibly, not immediately in all MFIs, said Alexey Guznov, deputy chairman of the Central Bank. At the same time, market participants strongly opposed it. Whether Russians will have problems obtaining microloans online is in the Izvestia article.
Why do I need biometrics when applying for a micro-loan online?
The authorities plan to oblige Russians to undergo biometric identification when applying for microcredit online. This is one of the initiatives included in the comprehensive draft law on combating cyberbullying. It was submitted to the State Duma in February, and the first reading is scheduled for March 18.
In general, the Central Bank supports the expansion of the unified biometric system for microloans, Alexey Guznov, Deputy Chairman of the Central Bank, told Izvestia.
— This process allows for better identification of the individual. However, most companies will need technical improvements, so the measure should be introduced with a time lag. And, possibly, with a division into classes of MFIs. It will require discussion and adjustment, but this is a normal process," Alexey Guznov clarified.
If the bill is adopted in its current form, at each remote registration of a loan or loan, MFIs will have to confirm the identity of the client using "Public Services" and biometrics from the Unified Biometric System (UBS), the press service of the Ministry of Finance explained to Izvestia. At the same time, the use of biometrics will not be mandatory for Russians. They still have the opportunity to get a loan with a personal visit to a microfinance organization, the agency added.
The proposed innovation will complicate fraudsters' access to financial services and reduce the number of cases when loans are issued using other people's personal data, the office of Deputy Prime Minister Dmitry Grigorenko told Izvestia. Unlike a password that can be hacked, guessed or stolen, biometrics is physically tied to a person, which makes it a more reliable way to protect, the press service explained.
They added: As requested by the business, mandatory biometrics will be implemented in stages. This will allow market participants to adapt their processes and technologies to the new system. The Center for Biometric Technologies (CBT)— the operator of the EBS, supported the division into classes of MFIs and the phased implementation of changes.
For small micro-credit companies (they do not have the right to issue loans over 500 thousand, and their authorized capital should be from 10 million), it is proposed to make this requirement mandatory only from March 1, 2027, a source familiar with the discussion of the bill told Izvestia. He noted that separate amendments are currently being worked out with the business, they may be submitted for the second reading.
How criminals apply for loans to Russians without their knowledge
The main purpose of the proposed measure is to make it impossible for fraudsters to obtain a microloan online without a person's knowledge, the CBT emphasized.
Today, such attempts occur quite often, said Vladimir Ulyanov, head of the Zecurion analytical center. The fact is that the requirements for borrowers in terms of quality, volume and completeness of the information provided in MFIs are usually lower than in most banks, and the time for reviewing applications is an order of magnitude shorter (literally a few minutes), which also benefits fraudsters, the expert explained.
"Currently, MFIs can use a video call to establish identity, during which the borrower needs to show his passport to the camera, and the cameras are mostly not of very good quality, which allows fraudsters to use deepfakes for their own purposes," added Alexey Kozlov, a leading analyst at the information security monitoring department of the Telecom Exchange.
Last year, the Central Bank received more than 5,000 complaints from Russians about fraud in MFIs, according to the regulator. However, not all the defrauded could contact the Bank of Russia after such an incident — many of them went to the police or to the microfinance organization itself.
Now the problem of remote registration of microloans in the name of other people is quite acute, said Ekaterina Kutuzova, a lawyer and a member of the Adyghe Republican Bar Association. She praised the initiative. However, the main risk is the need to ensure the protection of users' biometric data. Their leakage can lead to serious consequences.
The EBS reliably protects the data of Russians, the Ministry of Finance reported. The face image and voice recording are stored in the system not in their original form, but in encrypted form. At the same time, you can delete your data from the system at any time — using Gosuslug or contacting the Central Bank.
Will it be difficult to apply for a microloan online
In the market, the proposal to introduce mandatory biometric identification for obtaining microloans online still raises many questions, says Oleg Berdasov, Director of the Risk Management Department at IFC MigCredit.
Currently, the data of only 3 million people is stored in the EBS database, the press service of the Microfinance and Development self-regulatory organization (SRO) emphasized. At the same time, more than 10 million Russians use the services of MFIs. At least 7 million people simply won't be able to meet their needs.
First, biometrics should be widely implemented in our daily lives, and after that it can be extended to microloans, Oleg Berdasov agreed.
Leonid Kornilov, Chairman of the Board of Directors of Finbridge Group, is convinced that it is not necessary to send a client from online to offline to deposit biometrics at a bank. According to him, the initiative itself is correct, but it is being introduced without detailed discussions with the market. As a result, customers will lose out because their access to services will be reduced.
— For example, the main advantage of the so—called "payday loans" is the maximum simplicity in registration. And they are issued for relatively small amounts, on average about 10 thousand rubles. In other words, the use of biometrics is not as relevant here as when issuing loans for large amounts," said Andrey Ponomarev, CEO of the online financial platform Webbankir.
It is unclear why such a duty is proposed to be imposed exclusively on MFIs, said Roman Makarov, CEO of IFC Zaymer. According to him, in 2024, bank clients lost almost 230 times more money than the clients of microfinance organizations.
Just to connect to the EBS, each MFO will have to pay at least 15 million rubles in the first year. The industry will have to spend 1.77 billion rubles, the press service of the SRO MIR warned. Such additional costs can become unbearable for most players, Oleg Berdasov from MigCredit emphasized.
Foreign experience shows that such measures should be introduced in stages and only after the vast majority of citizens have received their biometric profile, says Anton Gruntov, Director of Security at Eqvanta Group. He added: now everyone who is worried about scammers can set a self-ban on making microloans and loans. More than 5 million people have already used this option.
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