Cyber police arrest Thai woman for illegal lending in Songkhla
Cyber police executed a raid on a residence in Songkhla to apprehend a woman involved in illegal money lending with a staggering interest rate of 15%. The operation uncovered weapons, land deeds, and multiple vehicles used as collateral. The investigation revealed a turnover exceeding 1 million baht.
A team led by Jirawat Phayungtham, acting commander of the Cyber Crime Investigation Bureau, under the directive of Phumpat Phattharasriwongchai, along with deputy commander Banchach Srisuk and Kookiat Wongpan, carried out a court-sanctioned search in Singhanakhon district, Songkhla province today, November 9.
The raid led to the arrest of 49 year old Yai Jai, along with evidence including a firearm, ammunition, 22 motorcycles, a car, two land deeds, and two loan contracts.
The investigation was initiated after Cyber Crime Division 5 officers identified a Facebook account consistently posting about money lending and accepting vehicles as collateral.
The online activity raised suspicions, prompting further inquiries that eventually led to identifying the account owner and her residence. Armed with a search warrant from the Songkhla Provincial Court, the police proceeded with the raid.
Upon entering the premises, officers found Yai Jai and presented the search warrant. Inside, they discovered a handgun, bullets, land deeds, and loan agreements. During questioning, Yai Jai admitted to posting the loan offerings on social media using her mobile phone. She confessed that all items seized by the police were indeed in her possession.
“I arranged funds for others to borrow, charging an interest rate not exceeding 15% per annum.”
Yai Jai further explained that borrowers had to provide vehicles as collateral, with some loans reaching millions and using land deeds as guarantees.
Yai Jai also admitted to operating without a proper business licence for credit activities. The seized items were identified as collateral provided by borrowers. The total turnover from these activities was approximately 1 million baht.
Initially, law enforcement charged Yai Jai with unauthorised possession of a firearm and ammunition, and conducting a money lending business without a proper licence, violating the Revolutionary Council Announcement No. 58. She was taken into custody along with the evidence and handed over to the Singhanakhon Police Station for further legal proceedings, reported KhaoSod.
What Other Media Are Saying
- Bangkok Post reports police dismantled an illegal mortgage operation in Hat Yai, arresting a man for charging exorbitant interest rates, highlighting risks for borrowers with vehicles under hire-purchase contracts. (read more)
Frequently Asked Questions
Here are some common questions asked about this news.
Why do illegal money lending operations often use social media platforms?
Social media offers anonymity and wide reach, facilitating easy connections with potential borrowers while evading traditional scrutiny.
How do cyber police adapt to the evolving nature of digital crime?
By employing advanced technology and strategies to monitor and investigate suspicious online activities effectively.
What if authorities didn’t regulate online financial activities?
Unregulated activities could lead to widespread financial exploitation, increased crime rates, and economic instability.
What motivates individuals to engage in illegal lending despite the risks?
High profit margins, demand for quick loans, and perceived low risk of detection can drive individuals to such activities.
How can individuals protect themselves from falling victim to illegal lending schemes?
By verifying lender legitimacy, understanding loan terms, and consulting financial advisors before committing to agreements.
