The Ministry of Internal Affairs in Russia has proposed a “total blocking” of loans for all citizens, potentially requiring mandatory interviews with the police before loan approval, sparking widespread debate. This proposal aims to combat fraud and protect citizens from scammers.

Residents of Novosibirsk are actively discussing the measure, with many expressing concerns about its implications. A key point of contention is the ease with which loans can currently be obtained online, which some believe fuels fraudulent activity.

Some citizens are suggesting alternative solutions, such as requiring personal presence at banks for loan applications. This would include on-camera verification, a standardized set of questions, and signatures for each item. A mandatory waiting period of three days before loan issuance is also proposed, shifting the responsibility to the bank in cases where a person is unaware of a loan taken out in their name.

Others argue that the focus should be on addressing the root cause by toughening penalties for fraud in Russia. Many commentators believe that law-abiding citizens should not have their rights restricted due to the actions of scammers, emphasizing the need to catch and punish the perpetrators instead of implementing blanket bans.

This proposal comes amid reports that Russian banks have begun reducing credit card limits.