From March 1, 2025, a self-prohibition on issuing loans will come into effect in Russia.
The law was developed to strengthen the fight against fraud.
The corresponding document is posted on the official legal information portal .
The law provides that citizens will be able to establish a ban on loan agreements in their credit history.
This restriction will not apply to mortgages, car loans and educational loans under state support.
The document will help minimize the risks of fraudulent activities by using citizens’ personal data.
A number of operations at the interbank level will also be subject to restrictions.
Setting or removing a ban
Citizens will be able to set and remove self-prohibitions free of charge at any time.
After submitting an application, the relevant information will appear in the person’s credit history.
Banks will check for restrictions before issuing a loan.
