Starting October 1, 2024, banks in Kazakhstan will begin screening clients before issuing online loans to determine whether a person is acting under the influence of fraudsters. The relevant norms are contained in the Requirements for the Conditions of Banking Activities, reports infohub.kz.
The need for the new measure stems from a widespread phone fraud scheme. Criminals often pose as "bank managers," "police," or "security service" representatives, intimidate victims, and under various pretexts force them to take out a loan. As a result, the person borrows money and transfers the funds to a so-called "safe account," which actually belongs to fraudsters or droppers. Formally, the citizen takes out the loan themselves, but in reality acts under pressure and following someone else's instructions.
The new questionnaire is designed to identify such situations. Borrowers will be asked just seven questions: who suggested taking out the loan; whether the person approached the bank in person or at the request of others (security services, law enforcement, unidentified individuals, etc.); for what purposes the loan is being taken; whether the client has reviewed the loan terms (amount, term, interest rate, repayment schedule); whether anyone is pressuring them or rushing the application; whether they were advised to hide the loan from bank employees or relatives; and whether they had previously received calls offering to "protect money" or "check account transactions."
Answers such as "to check the account," "to transfer to a safe account," "urgent processing," or "don't tell anyone" will become "red flags" for the bank. If the questionnaire reveals signs of fraud or third-party influence, the bank will conduct an additional check, explain the risks to the client, and then may make one of the following decisions: issue the loan, suspend the application until circumstances are clarified, or refuse to issue it.
Thus, with the help of the questionnaire, the bank will be able to ask the borrower uncomfortable questions and not disburse funds where the situation looks suspicious, protecting the client from a fraudulent loan.