Fraud forces banks to adopt new prevention measures

Slovak banks were defrauded of more than Sk1 billion in 2005 by con artists who used counterfeit identification or salary confirmations to receive a loan.

In response, banks will soon be implementing new countermeasures, including verifying applicants' data through social insurance provider Sociálna poisťovňa (SP), the Pravda daily wrote.

Regina Ovesny-Straka, the head of SLSP bank and president of the Slovak Banking Association, said the cooperation between banks and SP should help ascertain whether applicants' salary statements are honest.

Compiled by Martina Jurinová from press reports
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