Counterfeiters prefer larger
The problem of counterfeit money circulating on the territory of Russia, before the Russian law enforcement officers is quite acute. In 2013, the total number of fakes discovered by the…

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Three reasons for the outflow of capital abroad
Over the past month, investment funds focused on Russia withdrew about $ 150 million from the country. It is noted that the outflow for the last week of October amounted…

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Three reasons for the outflow of capital abroad
Over the past month, investment funds focused on Russia withdrew about $ 150 million from the country. It is noted that the outflow for the last week of October amounted…

Continue reading →

downs in their development

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Credit treat for scams

Lending to individuals is growing faster than the corporate borrowing market. In April, the volume of money issued to Russians for personal needs increased by 3.8 percent compared to 2.4 in the field of lending to non-financial organizations and exceeded six trillion rubles. It is not surprising that such amounts attract all kinds of crooks who want to grab at least part of such a tidbit. How often do banks face retail lending fraud? What debt schemes attract the most attention of scammers?

A Bigness correspondent addressed these questions to several of the largest Russian financial institutions that are leading in the consumer lending market – Sberbank, VTB24, Home Credit … But everywhere he was either at a loss or refused to provide data on this issue. Or, as in Raiffeisen Bank, they stated that there were no cases of fraud in their practice, as the bank’s experts meticulously check all the documents provided by the borrowers.

Bankers’ secrecy is easy to understand. Fraud for any type of loan is a painful topic for bank employees. However, this secrecy indicates the urgency of the problem. Another confirmation of this is the adorning website of Home Credit Bank for calls to borrowers to be vigilant about possible scams. Continue reading

“Banks of time” crowd out money

“Banks of time” crowd out money
While economists around the world are wondering if the second wave of the crisis will cover us, the townsfolk are coming up with their own ways to withstand possible perturbations in the economy. One of them is the spread of such a form of alternative economic relations as the “time bank”. Although they were invented in the USSR, the development of “time banks” was received in the USA and Great Britain.

The idea to use as a currency not some conventional pieces of paper and pieces of metal, but an intangible, but the only unit of time for the whole world – an hour, was first put forward in 1976 by the Soviet psychologist and engineer Vladlen Livshits. A year later, the world’s first “time bank” was created on the basis of the bakery in Kohtla-Järve. Employees of the enterprise were transferred to a flexible work schedule, one of the fundamental principles of their activity was active and mutual assistance to colleagues, and then to employees of other organizations – the local scientific research institutes of shale and thermal power plants. After the American journalist David Shipler got acquainted with the unusual production experience of Soviet bakers and stokers, the idea of ​​Livshits was developed in the United States. Continue reading

Investments “from God” are the most sustainable

Investments “from God” are the most sustainable
You can work in the financial market with “God’s grace.” Religious denominations offer adherents investments that are guaranteed to please God and allow hierarchs to maintain godliness in the eyes of the nourished flock. Religious organizations have long ceased to exist through donations and have become diversified corporations.

Today, all large and even small churches control their own investment funds. They invest funds received from believers in securities and conduct other commercial activities. According to Newsweek magazine, one of the most famous Protestant sects, the Mormons (The Church of Jesus Christ of Latter-day Saints), only officially owns a financial company with assets of $ 3 billion, and its general condition was estimated by the magazine in June 2011 at $ 30 billion.

At the same time, Mormons belong to the category of the most financially stable sects, in general, Protestant churches are objectively forced to turn into openly financial and service corporations, since the number of parishioners is sharply reduced. Continue reading

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Three reasons for the outflow of capital abroad
Over the past month, investment funds focused on Russia withdrew about $ 150 million from the country. It is noted that the outflow for the last week of October amounted…

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LIBOR: time to change bets
The key LIBOR rate for credit markets is going to be modernized. City of London, New York Wall Street and regulators on both sides of the Atlantic are seeking a…

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Retail wins banking business
Retail wins banking business Last year was the most successful in the history of the retail business of VTB24 Bank. He again entered the top three most powerful banks in…

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Ministry of Finance is preparing a new blow to business
The Russian Ministry of Finance proposes to prescribe in the Tax Code the maximum allowable interest rates on corporate loans. Thus, the ministry expects to simplify tax accounting and avoid…

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