Photo: uza.uz
A new procedure for canceling online loans issued in the name of citizens through fraudsters is being introduced in Uzbekistan. This was reported in a resolution registered with the Ministry of Justice and approved by the Central Bank.
According to the resolution, if it is determined that a loan was issued fraudulently, the citizen will be fully released from all financial obligations related to this loan. Financial institutions will also be obliged to stop accruing the principal debt, interest, fines and penalties and cancel their collection.
The process begins with the citizen submitting an application to law enforcement agencies. Then, verification and investigation actions will be carried out. If fraud is confirmed, the investigator, prosecutor or court decision will be forwarded to the credit institution and the debt will be canceled on this basis.
If the funds have been previously collected, financial institutions are obliged to return them to the citizen. The return will be made via a bank card or the specified account number. At the same time, the creditor has the right to appeal in accordance with the legal procedure if he is dissatisfied with the results of the investigation or the court decision.
If the fact of fraud is not revealed during the investigation, the loan settlements will be restored to their previous state. The new rule will come into force on April 22 and will serve to further protect the financial rights of citizens.
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