02.05.2024, 09:08
The number of financial pyramids and illegal creditors has increased dramatically in Russia
Source: OREANDA-NEWS
OREANDA-NEWS In the first quarter of 2024, the number of subjects of illegal financial activity increased to a record level. Kommersant reports on a sharp increase in the number of financial pyramids, illegal creditors and investment players, citing data from the Central Bank.
According to the results of three months, the regulator found 1,787 subjects of illegal activity (plus 54 percent year-on-year). Compared to the end of 2023, the increase was 15 percent. So, in 2023, 5,735 financial pyramids, illegal creditors, professional participants in the securities market, operators of investment platforms and participants in the insurance market were identified.
The number of Internet projects with signs of financial pyramids (plus 70 percent), illegal creditors (plus 48 percent) and illegal professional participants in the securities market (plus 46 percent) increased the most in the first quarter of 2024. This trend is associated with a tightening of financial policy on the part of the Bank of Russia.
"Due to strict criteria for borrowers and unattractive deposit rates, citizens are looking for alternative ways to increase their own funds or where to borrow up to a salary with the least risk of refusal on application. The most indebted citizens are ready to take risks, and where there is demand, there is supply," explained Gennady Fofanov, President of the Invoicafe investment platform.
The growth of illegal investment—related services is associated with the growth of the market - more and more Russians are gaining access to investments, which attracts scammers. The habituation of customers to the use of cryptocurrencies also leads to an increase in the number of illegal immigrants. According to Alexey Voilukov, Vice president of the Association of Banks of Russia, the arsenal of the Central Bank does not allow to fight fraudsters alone - after blocking access to their domains, they switch to another resource.
Earlier, the regulator named the main schemes used by illegal creditors and creators of financial pyramids. The most popular among them are illegal consumer loans under the guise of commission trading and anonymous online resources with pseudo-investment offers. In addition, illegal lenders often use repayment leasing schemes, which in most cases leads to the loss of a mortgaged car or apartment.
According to the results of three months, the regulator found 1,787 subjects of illegal activity (plus 54 percent year-on-year). Compared to the end of 2023, the increase was 15 percent. So, in 2023, 5,735 financial pyramids, illegal creditors, professional participants in the securities market, operators of investment platforms and participants in the insurance market were identified.
The number of Internet projects with signs of financial pyramids (plus 70 percent), illegal creditors (plus 48 percent) and illegal professional participants in the securities market (plus 46 percent) increased the most in the first quarter of 2024. This trend is associated with a tightening of financial policy on the part of the Bank of Russia.
"Due to strict criteria for borrowers and unattractive deposit rates, citizens are looking for alternative ways to increase their own funds or where to borrow up to a salary with the least risk of refusal on application. The most indebted citizens are ready to take risks, and where there is demand, there is supply," explained Gennady Fofanov, President of the Invoicafe investment platform.
The growth of illegal investment—related services is associated with the growth of the market - more and more Russians are gaining access to investments, which attracts scammers. The habituation of customers to the use of cryptocurrencies also leads to an increase in the number of illegal immigrants. According to Alexey Voilukov, Vice president of the Association of Banks of Russia, the arsenal of the Central Bank does not allow to fight fraudsters alone - after blocking access to their domains, they switch to another resource.
Earlier, the regulator named the main schemes used by illegal creditors and creators of financial pyramids. The most popular among them are illegal consumer loans under the guise of commission trading and anonymous online resources with pseudo-investment offers. In addition, illegal lenders often use repayment leasing schemes, which in most cases leads to the loss of a mortgaged car or apartment.
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