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Availability and Access to Credit Information in Russia

There are 17 credit bureaus operational according to the State Register of Credit Bureaus maintained by the Central Bank of Russia.  Article 6, Provision of a credit report of the Federal Law No.218-FZ On credit histories of December 30, 2004 (as amended on July 3, 2016), regulates the provision of credit histories (credit information) in the form of a credit report.

Credit bureaus can provide credit reports based on a contractual relationship between the inquiring entity / person and the credit bureau.   The inquiring party will have to provide an obligatory statement of purpose for obtaining a credit report and a written or recorded consent of the data subject.  The consent is valid for two months or will cover the entire period of a loan.

A credit report can only be provided in the form of an electronic document with a digital signature.   The recipients of credit reports are obliged to hold information confidential. Therefore, receiving information of a counterparty’s credit history is legitimate.

In practical terms, the procedure of obtaining a credit report / history can be as follows:

  1. To obtain information of the counterparty’s loan providers one should turn to the Central Catalogue of Credit Histories – department of the Central Bank which is entitled to maintain the database of title parts of credit histories (for individuals and sole entrepreneurs: surname, name, patronymic, passport data, tax number, insurance individual account number etc.; for legal entities: company name, tax number etc.). As a result, one can get a complete list of credit bureaus keeping the details of the counterparty’s credit history. Any credit bureau can also conduct this search for a fee.
  2. To obtain details of the counterparty’s credit history (data subject), one should contact one of the credit bureaus, conclude an agreement for information provision, register with an e-service, create an account and pay for the service. Besides, one should provide and pay for all technical, software and communications resources required for using the e-service.

The mandatory requirements for getting a detailed credit history are:

  • A written consent of the subject for receiving a credit report, stating the purposes for obtaining this information;
  • a digital signature;
  • installed encryption software to ensure safe transfer of personal data; a safety certificate in accordance with the legislation on personal data.

Source:  Credinform Russiahttp://www.credinform.ru/en-US

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