Central Bank Supports Endowing Banks with Access to Passport History | News | News

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The Bank of Russia supports initiatives aimed at obtaining information by lenders to identify and evaluate a borrower. This was reported to Izvestia by the Central Bank in response to a request about the need to provide banks with access to information about previously issued passports of citizens.

Due to the fact that Russia has canceled the mandatory stamp in the passport on previously issued identity cards, banks have encountered difficulties in identifying customers. This is stated in the letters of the National Council of the Financial Market (NSFM) to the government, the Ministry of Internal Affairs and the Central Bank (Izvestia has the documents). For example, it is impossible to unambiguously link a new passport with an old one in the databases of the credit bureau (BCH).

“The inability to verify information opens up loopholes for fraudsters. For example, they can get a loan for one passport. Then pretend that you have lost it, and get a loan on a new document with a clean credit history. If the bank cannot check the old passport at the moment, then it serves the client like a new one, ”explained Andrey Emelin.

The mandatory stamp in the passport on previously issued identity cards, as well as on marriage and children in Russia was canceled in July 2021. According to Izvestia’s sources in law enforcement agencies, cases of passport fraud are gaining momentum. For example, on November 24, four cases were initiated in Moscow about attempts to take out a loan using a forged passport.

Read more in the exclusive material from Izvestia:

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Whether it is: banks want access to citizens’ passport history

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