Uzbekistan To Suspend Online Loan Collection For Fraud Victims

Uzbekistan will suspend the collection of online loans from citizens who have been officially recognised as victims of fraud, according to a regulation by the Ministry of Justice.

Under the new rules, if fraudsters take out an online loan in someone else’s name and that person is formally declared a victim, the bank must temporarily stop charging interest and demanding repayment. The lender will be entitled to seek compensation from the individual who obtained the loan through fraud.

If an investigation or court later determines that no fraud took place, the bank will resume interest charges and repayment demands.