The SBU Cyber ​​experts exposed and suppressed a criminal scheme of extorting money from citizens taking out "easy" loans via the Internet.

Allegedly, one of the leading online microcredit companies illegally imposes 300% penalties and fines upon customers who failed to repay loans. This is a violation of current legislation, as such penalties may not exceed 50% of the loan amount.

In addition, debt collection companies were involved in squeezing the fake debts. Collection agents extorted money, resorting to pressure, threats of physical violence or destruction of property. They threatened also borrowers’ family members.

During authorized searches, law enforcement officers found and seized documents proving the illegal activities of credit and debt collection companies, draft records, software and hardware.

A total of 15 searches were conducted in Kyiv. Investigative actions are currently underway.

The SBU strongly recommends to analyze in detail the financial information when applying for loans and carefully verify advertisements for low-rate loans.