Problem

Fraudulent loans

Other Names:
Loan fraud
Nature:

Loans obtained through or with an element of fraud, or which are used for purposes other than those intended, including diversion to the benefit of a few influential individuals. In some cases the borrower has no intention of using the loan for its stated purpose, and the lending institution may even be aware of this.

Incidence:

In the Philippines the Bataan Nuclear Power Plant loan, worth US$2.5 billion is cited as one of the most blatant examples of a fraudulent transaction in that country.

Broader Problems:
Inappropriate loans
Subject(s):
Commerce Credit
Societal Problems Crime
Related UN Sustainable Development Goals:
GOAL 8: Decent Work and Economic GrowthGOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal
Problem Type:
E: Emanations of other problems
Date of last update
04.10.2020 – 22:48 CEST