Man Forced To Pay Bank Loan He Didn’t Take Because Of His Stolen Phone

Harin - Aug 04, 2020


Man Forced To Pay Bank Loan He Didn’t Take Because Of His Stolen Phone

A Russian man is suing a bank for forcing him to pay a loan he never took after fraudsters took out a pre-approved loan with his stolen phone.

A Russian man is suing a bank for forcing him to pay a loan he never took after fraudsters, under his name, took out a pre-approved loan, using his stolen phone.

The victim is Vladimir Volokhovich, a Moscow resident. He has been making headlines in Russia after being caught in an unusual incident. Volokhovich is being asked to pay a pre-approved loan at the Alpha Bank (Russian branch). But the problem is Volokhovich never signed up for the loan. Instead, fraudsters did, with his stolen smartphone.

Stolen Smartphone
Volokhovich never signed up for the loan. Instead, fraudsters did, with his stolen smartphone.

The scammers not only managed to transfer to their accounts part of the funds, the interest on the loan that Volokhovich never asked for keeps adding up every day. However, the bank didn’t agree to cancel the loan, saying that Vladimir should have reported that his smartphone had been stolen.

The loan is in the amount of around $20,000, issued only with a simple electronic signature. The scammers managed to withdraw around $1,900 before all transfers were blocked by the back. The problem here is the interest of the loan is extremely high. If you pay back the loan within five years, the interest is $4,000.

Loan Approved
The loan is in the amount of around $20,000, issued only with a simple electronic signature.

Vladimir submitted to the bank an application to ask them to cancel the loan since he was the scammers’ victim. However, the bank rejected it.

In an interview, Volokhovich also criticized how the bank easily approved the loan electronically. All the scammers had to do was register for a pre-approved loan and used an electronic signature which was an SMS code to confirm.

>>> Police Discovered Mysterious Graves, Turn Out To Be Bitcoin Mining Facilities

Comments

Sort by Newest | Popular

Next Story

Read more

Looking For An Alternative To Facebook? Here Are The Best Options On The Market

ICT News- Jan 26, 2021

Looking For An Alternative To Facebook? Here Are The Best Options On The Market

If you are fear for your personal information and piracy online, here are our suggestions to help you find a perfect alternative to Facebook

A Large Number Of Indians Are Trying To Make COVID-19 Vaccines At Home

Features- Jan 26, 2021

A Large Number Of Indians Are Trying To Make COVID-19 Vaccines At Home

According to a Google Trends report, a large number of Indians are trying to make COVID-19 vaccines at home

Oppo A53 Review: A Decent But Unremarkable Budget Phone

Mobile- Jan 25, 2021

Oppo A53 Review: A Decent But Unremarkable Budget Phone

If you are on the market for a relatively cheap phone and are having your eyes on the Oppo A53, our advice is to temper your expectations

Best Drawing Software To Replace Procreate For Windows Users

Features- Jan 25, 2021

Best Drawing Software To Replace Procreate For Windows Users

As this drawing program is exclusive for iPadOS and iOS devices, there isn't a Procreate for Windows devices. Therefore, you need comparable alternatives.

Italy Requests TikTok To Block Users With Unverified Age

ICT News- Jan 25, 2021

Italy Requests TikTok To Block Users With Unverified Age

The Italian Data Protection Agency has required TikTok to block unverified user accounts with a deadline of February 15.

China's Rail Board Network Failed As Adobe Killed Flash, Technicians Used Pirated Software Instead

Features- Jan 26, 2021

China's Rail Board Network Failed As Adobe Killed Flash, Technicians Used Pirated Software Instead

For some people in China, the death of Adobe Flash means they were late for work as the city of Dalian was running its rail board system on the plug-in.