The Russian illegal market has created a new database on major Russian banks’ debtors. The Russian banking market has never seen such a serious leak; the database comprises three million files, particularly data on the borrower’s name, home telephone number and address, job site and the reason why the borrower was put on the blacklist, namely, overdue payment on credit or other information. The relevant bank is also indicated.
The database contains files from ten major Russian banks, including RUSSIAN STANDARD, HCF BANK, ROSBANK, FINANSBANK and IMPEXBANK, the largest consumer lending market players. Bankers state that the black market of credit histories is developing at a higher rate than the legal market, thus hindering further development of the credit history bureau and doing serious damage to the bank sector.
Source: KOMMERSANT, December 12, 2006
