In Kazakhstan, the "Stop Credit" service, which has been operating through the Egov mobile application for more than a year, has become a reliable barrier for many citizens. According to information released by the Jibek Joly television channel, this service is primarily seen as an effective mechanism for protection against fraudsters, Kazinform reports.
Any citizen of Kazakhstan can access the Egov mobile application and voluntarily refuse to take out a loan. This restriction makes it impossible for anyone to borrow on behalf of a citizen.
According to official figures, since the launch of the service, more than three million people have voluntarily refused loans. Thus, they had the opportunity to protect themselves from possible fraud.
The service also has the option to lift the restriction at any time. But an important point is that even if a person clicks the "cancel" button, if fraudsters manage to get a loan in their name, banks are obliged to write off this debt without a court or investigation.
Such financial security services strengthen public confidence in the banking system. Especially in today's digital age, in the context of an increase in the number of fraud related to personal data and financial transactions, the "Stop Credit" service is becoming an important means of protection for citizens.
It should be recalled that it is also planned to provide preferential loans at 5 percent to citizens who buy cattle and sheep in Kazakhstan.
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