A Russian man is taking a bank to court for forcing him to pay interest on a loan he never asked for, after fraudsters used his stolen smartphone to take out the pre-approved loan in his name.
Vladimir Volokhovich, from Moscow, has been making news headlines in his home country of Russia after finding himself right in the middle of an unusual scandal. Volokhovich is being asked by the Russian branch of Alpha Bank to pay up a pre-approved loan taken up by fraudsters in his name, using his stolen mobile phone. Not only did the scammers manage to transfer part of the funds to their accounts, but the interest on the loan Vladimir never asked for is adding up every day. The bank, however, refuses to cancel the loan, claiming that Vladimir should have reported his smartphone as stolen sooner.