Illegal creditors and collectors stepped up in Russia

2020-06-22

Amid the economic crisis and the COVID-19 pandemic, “black” creditors and illegal collectors have stepped up their work, Izvestia reports. The fraudsters aggressively advertise their services on social networks and over the phone. According to experts, in the 2nd quarter of 2020, further growth in their activity should be expected.

The new "bankers"
The new “bankers”

“Black” lenders and collectors are individuals and organizations that issue interest-bearing loans and collect arrears without observing the law. Such “moneylenders” cannot be found in the registers of the Central Bank and the Federal Security Service.

They often operate after hours, using unidentifiable SIM cards. In their arsenal there are such means of imposing loans and knocking out debts as constant annoying calling potential clients, as well as threats and psychological pressure on debtors.

Experts noted the greatest activity of illegal “moneylenders” in April and May of this year. Dmitry Teplitsky, who is a member of the SRO “National Association of Professional Collection Agencies” (NAPCA), told reporters that the number of complaints about such organizations has increased by 70% since the beginning of the year.

In the 2nd quarter of 2020, experts predict a further increase in the activity of “black” lenders. Russian incomes are now continuing to fall, so the request for borrowed funds will only increase. And where credit institutions operating under the law will be forced to refer to the high debt burden and refuse, fraudsters will inevitably seize the initiative. After all, a profitable place never stays unoccupied.

In fact, both the official “mortgages” recorded in the registers and the “black” lenders are engaged in the same thing: they profit from the rapidly impoverished people. Only some do it by law, while others do not. But all of them are equally ready to use any moment convenient for profit, whether it be a holiday, a crisis or a pandemic.

Capitalism is based on the robbery of workers. Bourgeois laws are often called upon only to regulate the distribution of the loot.