In particular, it is recommended to verify the validity

[tanjimajuha20]

Microfinance organizations (MFOs) will be required to verify the identity of the borrower using certain parameters when issuing online microloans. This will prevent fraud when receiving such loans using someone else's personal data. The list of specific steps for verifying the client is contained in the new version of the france cell phone number list basic standard for MFO operations in the financial market.

of the potential borrower's passport, the authenticity of his photo in the document, information about the credit history, and also that it is he, and not the fraudsters, who uses the account and phone number specified in the application. In total, the document offers 10 verification methods. MFIs will be required to use at least three of them.

New requirements are also being introduced for interactions between MFIs and their agents. The document notes that only MFIs have the right to make decisions on issuing loans and issue them.

The standard has been approved by the Bank of Russia and will come into force three months after publication on the regulator's website. Self-regulatory organizations (SROs) will monitor compliance with the standard by microfinance organizations, and the Bank of Russia, in turn, will monitor the SROs.