The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a step-by-step guide for individuals who discover a loan was taken out fraudulently, setting out the actions expected from banks and microfinance organisations and the documents needed to trigger protections. Once the lender receives specified police procedural documents, it must suspend further interest and penalty accrual and pause debt collection activity within set timeframes, while any debt write-off requires defined legal and evidentiary conditions. The guide instructs victims to immediately contact the bank or microfinance organisation to request blocking of cards, accounts and apps and to have the incident registered, and to file a police report and retain evidence (including messages, screenshots and statements). Police should issue either a decision recognising the person as a victim (Criminal Procedure Code Article 71) or a submission on measures to eliminate circumstances contributing to the offence (Article 200), which is sent to the creditor; after receipt, the creditor must within three calendar days suspend interest and penalty calculations and pause debt collection and claims work. The Agency stresses that write-off of a fraudulent loan is not automatic and is possible out of court only where mandatory requirements were breached and fraud is confirmed by police, including cases such as missing biometric identification for an online loan, lending despite a customer “voluntary refusal” marker, breaches of age restrictions, provision of a first unsecured online consumer loan above 150 AEK by a bank or 75 AEK by a microfinance organisation, or failure to observe the required “decision-making period” before disbursing funds (including early disbursement by eight hours or 24 hours depending on amount and product). Where the breach is established and procedural documents are available, the creditor must within three working days write off the debt, amend the credit history and refund withheld amounts; where breaches are not clear but fraud is confirmed through investigation and a court ruling, the creditor must within 10 working days of the court decision entering into force write off the debt, refund amounts and update the credit history. If a creditor refuses to take the suspension measures, the guide directs consumers to submit a complaint to the Agency via the eOtinish portal, attaching the refusal and the police procedural document.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-11-27
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlines lender duties to pause charges and write off debt linked to fraudulent loans
Kazakhstan's Financial Market Agency issued a guide for victims of fraudulent loans, detailing steps for banks and microfinance organisations to suspend interest and penalties upon receiving police documents. It outlines conditions for debt write-off, requiring confirmed fraud and procedural compliance, and advises victims to report incidents and retain evidence. If creditors fail to suspend measures, consumers should file complaints with the Agency via the eOtinish portal.