Almaty AFM investigates Alemcredit.com crypto microloan fraud scheme

September 7, 2026 at 09:29 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The Almaty Department of the Financial Monitoring Agency (AFM) is investigating fraud involving microloans in cryptocurrency issued through Alemcredit.com. Borrowers received significantly less than promised, with undisclosed fees withheld, and repayments were routed through third-party bank cards. Searches seized SIM boxes and a large number of SIM cards used for mass SMS distribution.

Key Facts

The Almaty Department of the Financial Monitoring Agency, coordinated by the prosecutor's office, is investigating fraud involving microloans in cryptocurrency through Alemcredit.com.
Borrowers were recruited via social media with aggressive advertising of loans on favorable terms, then required to undergo identification, provide personal data, and sign electronic documents.
After completing these procedures, the actual terms differed significantly from those stated, with borrowers receiving far less than promised and undisclosed commissions withheld.
Repayments were made through bank cards of third parties, known as droppers.
During searches, SIM boxes and a significant number of SIM cards used for mass SMS distribution were seized.

Fraud Scheme Mechanics

The Almaty Department of the Financial Monitoring Agency, coordinated by the prosecutor's office, is investigating fraud involving microloans in cryptocurrency through Alemcredit.com. Potential borrowers were actively recruited through social networks, where aggressive advertising of loans on favorable terms was widely distributed. To obtain a loan, citizens were required to undergo identification, provide personal data, and sign electronic documents. After completing these procedures, the actual terms of the transaction differed significantly from those initially stated. Borrowers received an amount significantly less than promised, with part of the funds withheld as commissions and other payments that were not disclosed in advance.

Infrastructure and Seizures

To ensure the operation of the internet resource and interaction with borrowers, a branched infrastructure was used, including legal entities, telecommunication resources, and technical means. During searches, SIM boxes and a significant number of SIM cards used for mass SMS distribution were seized. The investigation is ongoing, and other information is not subject to disclosure in accordance with Article 201 of the Criminal Procedure Code of the Republic of Kazakhstan.