Isarescu: Forging salary certificates has become an industry in some counties

The amount of credits granted based on fake salary certificates is starting to worry even Mugur Isarescu (photo centre), Governor of the NBR (National Bank of Romania), after several commercial bankers have already pointed out that the level of attempted fraud has become alarming. “The habit of forging salary certificates has become a real industry in some counties,” warned Mugur Isarescu. The Governor criticised the banks, arguing that they often fail to conduct a thorough check on potential clients before granting them a credit in their fight to attract clients and secure market shares. “There are lending products which lack any type of control, you advance 5,000 euros, and the debtor takes off. Maybe you have sound figures to report at the end of the year, but if the foundation for granting the credit is not solid, it will cause trouble,” says Isarescu. The NBR’s reaction comes in the wake of warning signals from commercial banks. At the beginning of the year, OTP Bank – the local branch of the largest Hungarian financial group, which had seen an aggressive growth on the retail segment over the last few years – decided to no longer grant consumer loans without tangible assets put up as collateral in 14 of its branches. Laszlo Diosi, CEO of the bank, explained that a significant level of fraud had been detected, but admitted that there were also problems related to training of the staff.