Step 1: Verify the Official Domain (Not Just the Logo)

Before you click “Submit” on any online loan application—whether it’s a microfinance loan, a personal installment loan, or a card offer—you need a repeatable, methodical way to separate a legitimate offer from a scam or predatory trap. This checklist is designed for that purpose. It does not promise approval, speed, or government support. It is a practical verification process you can run in under 15 minutes, using only public sources and your own documents.

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Step 1: Verify the Official Domain (Not Just the Logo)

What to do: Open the lender’s website. Look at the URL in your browser’s address bar—not the company name in the page header. Scammers often use domains that look like the real thing but differ by one letter or use a different extension (e.g., `.co` instead of `.com`, or `.online` instead of `.com`).

Checklist:

• Does the domain match the exact legal name of the company on its official registration documents?
• Is the domain registered to the company’s legal address? (You can use a WHOIS lookup tool—free online—to see the registrant’s name and country.)
• Does the website use HTTPS (the padlock icon)? While not a guarantee of legitimacy, its absence is a major red flag.

Why this matters: A fake domain is the most common entry point for phishing and identity theft. If the domain doesn’t match the company’s official registration, stop immediately.

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Step 2: Read the Consent Text (Not Just Click “I Agree”)

What to do: Before you check any box, open the “Consent to Personal Data Processing” or “Privacy Policy” link. Read it, or at least skim for key phrases.

Checklist:

• Does the consent text specify exactly what data will be collected (passport number, income, contacts, biometrics)?
• Does it name the third parties (if any) that will receive your data? (e.g., credit bureaus, collection agencies, or “affiliates”)
• Does it explicitly state that you have the right to withdraw consent at any time?
• Is the consent text written in plain language, or is it full of vague legal jargon that could allow unlimited data sharing?

Red flag: If the consent text says “your data may be transferred to any third party without further notice” or “you waive your right to object to data processing,” do not proceed.

Why this matters: Under data protection laws, consent should be specific, informed, and revocable. Vague consent is a sign the lender does not intend to protect your data.

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Step 3: Confirm the Lender’s Legal Identity

What to do: Find the lender’s full legal name, OGRN (Primary State Registration Number), and INN (Taxpayer Identification Number). These should be on the website’s footer or “About” page. If they are missing, the lender is likely unregistered.

Checklist:

• Write down the OGRN and INN.
• Go to the relevant official business registry (e.g., the Federal Tax Service’s online registry) and search by OGRN or INN.
• Confirm that the company’s status is “Active” and that its registered address matches the one on the website.
• If the company is a microfinance organization (MFO), also check the Central Bank of Russia’s (CBR) registry of MFOs (cbr.ru).

Why this matters: A legitimate lender should be registered with the appropriate authorities. MFOs should be in the CBR registry. If the company is not in the relevant registry, it may be operating illegally.

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Step 4: Check the MFO Registry (for Microfinance Offers)

What to do (source-specific claim): If the loan is from a microfinance organization, use the CBR’s official MFO registry at cbr.ru. Do not use third-party aggregator sites that may list unregistered entities.

Checklist:

• Enter the company’s OGRN or name into the CBR’s MFO search tool.
• Confirm the company’s registration number and the date it was entered.
• Verify that the company’s license has not been revoked or suspended.
• Cross-check the company’s actual business address (from the registry) with the address on the website.

Why this matters: Only MFOs in the CBR registry can legally issue loans in Russia. If the company is not listed, any loan agreement may be unenforceable, and you have no consumer protection.

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Step 5: Calculate the Full Cost of the Loan (Not Just the Interest Rate)

What to do: Find the “Full Cost of Credit” (PSK) disclosure. Under Russian law, this must be shown in large font at the top of the loan agreement or on the first page of the offer. It includes all fees, interest, and charges.

Checklist:

• Write down the PSK percentage and the total repayment amount (principal + all costs).
• Use a loan calculator (free online) to verify the math: multiply the daily interest rate by the loan term and add any fees.
• Compare the PSK to any legal limits that may apply (e.g., for MFOs, the PSK cannot exceed the CBR’s market average plus one-third).
• Look for hidden fees: “service fees,” “processing fees,” “insurance” that is mandatory.

Red flag: If the PSK is not displayed, or if the lender says “0% interest” but charges a high “document fee,” the real cost is hidden.

Why this matters: The PSK is the only number that tells you the true cost. Without it, you cannot compare offers or assess affordability.

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Step 6: Assess Your Repayment Ability (Honestly)

What to do: Do not rely on the lender’s “affordability calculator.” Use your own numbers. Write down your monthly income (after taxes) and your fixed expenses (rent, utilities, food, transport, existing loan payments).

Checklist:

• Subtract your fixed expenses from your income. This is your disposable income.
• Compare the loan’s monthly payment (from Step 5) to your disposable income. A safe ratio is no more than 30% of disposable income.
• Ask: “If I lose my job or have an emergency, can I still make this payment for the full term?”
• If the loan term is long (e.g., 12 months), account for inflation and potential interest rate changes (for variable-rate loans).

Why this matters: Defaulting on a loan damages your credit history, leads to collection calls, and can result in court judgments. Only borrow what you can repay without hardship.

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Step 7: Check Card Requirements (for Online Loans)

What to do: If the loan is disbursed to a debit or credit card, verify that the lender’s card requirements are standard.

Checklist:

• The lender should ask for the card number, expiry date, and CVV only for disbursement, not for “verification.”
• The lender should never ask for your card’s PIN, online banking login, or 3D Secure password.
• The lender should not require you to pay an “activation fee” or “card registration fee” before receiving the loan.

Red flag: If the lender asks for your online banking credentials or a “test transaction” to “verify” your card, it is a scam. Legitimate lenders use standard payment gateways (e.g., Visa/Mastercard 3D Secure) for disbursement.

Why this matters: Your card data is valuable. Scammers use it to drain your account or commit fraud. Never share your PIN or login.

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Step 8: Review the Required Documents (and Your Rights)

What to do: Legitimate lenders ask for a limited set of documents to verify your identity and income. Know what is normal.

Checklist:

• Standard documents: passport (main page and registration), and possibly a second ID (driver’s license, SNILS, or INN certificate).
• Income verification: For loans above a certain amount (typically 10,000–30,000 RUB), lenders may ask for a 2-NDFL certificate, bank statement, or pension certificate.
• Be cautious about providing: your military ID, medical records, or documents related to family members unless you are applying for a joint loan.

Red flag: If the lender asks for copies of your passport with no personal data redacted (e.g., they want the full page with your signature), or if they ask for your work contract’s confidentiality clauses, stop.

Why this matters: Over-collection of documents increases your risk of identity theft. Legitimate lenders only need what is legally required for KYC (Know Your Customer).

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Step 9: Check for Scam Signals (The “Too Good to Be True” Test)

What to do: Use common sense and the following red-flag checklist.

Checklist:

• No credit check? Legitimate lenders typically check your credit history. “No credit check” may mean the lender is not regulated or is offering a high-cost loan.
• Instant approval? Real approvals often take at least a few minutes to hours. “Instant” may mean no verification.
• Upfront fees? Legitimate lenders usually deduct fees from the loan amount, rather than asking you to pay before receiving funds.
• Pressure to act now? Scammers use urgency (“limited offer,” “only 10 spots left”). Real lenders give you time to read the contract.
• Unprofessional website? Typos, broken links, missing contact information, or a generic design are red flags.
• No physical address? If the only contact is a mobile number or a P.O. box, be suspicious.

Why this matters: Scammers rely on emotional urgency. A calm, methodical check will catch most scams.

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Step 10: Verify Support Contacts (Before You Need Help)

What to do: Before you sign, test the lender’s customer support.

Checklist:

• Check the phone number listed on the website. Does it look legitimate? (Consider searching for the number online to see if it’s linked to scams.)
• Send an email to the support address. Do you get an automated reply within a few minutes? A real response within 24 hours?
• Check for a physical address on the “Contacts” page. Look it up on Google Maps or Yandex Maps. Does it match a real office building?
• If the lender claims to be part of a larger group (e.g., “Sberbank partner”), verify that claim on the official partner’s website.

Why this matters: If you have a problem (missed payment, data breach, dispute), you need a way to contact the lender. Scammers often disappear after the loan is disbursed.

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Final Practical Steps: Your 15-Minute Verification Routine

1. Write down the lender’s OGRN and INN. (From the website footer.)
2. Check the relevant business registry (e.g., FNS registry) – 2 minutes.
3. If MFO, check the CBR registry (cbr.ru) – 2 minutes.
4. Read the PSK and consent text – 5 minutes.
5. Calculate repayment ability – 3 minutes.
6. Test customer support – 2 minutes (send an email, note the response time).
7. Apply the “too good to be true” test – 1 minute.

If any step fails (e.g., the company is not in the registry, the PSK is missing, the support number is dead), do not apply. Walk away. There are always other lenders.

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What This Checklist Does NOT Promise

This checklist is a verification tool, not a guarantee. It does not:

• Promise loan approval (approval depends on your creditworthiness and the lender’s internal policies).
• Promise fast disbursement (processing times vary).
• Promise government support (this checklist does not involve any government agency or program).
• Replace legal advice (if you suspect fraud, contact the police or the Central Bank).

Use this checklist every time you consider a loan. It takes 15 minutes and could save you from financial ruin.