illegal loans
- Thailand News
Cyber police arrest online loan shark charging 3% daily interest
Cyber police raided and arrested an online loan shark charging exorbitant interest rates of 3% per day, threatening, shaming, and destroying the property of those who failed to pay. They seized numerous items of evidence. The operation took place yesterday under the command of Cyber Police Chief, Worawat Watnakornbancha who instructed relevant authorities to execute a search warrant issued by…
- Thailand News
Thai police bust illegal lender for extreme rates and data breach
Thai authorities apprehended 37 year old man at his residence for running an illegal money-lending enterprise that charged exorbitant interest rates of 8% per week. The operation, led by senior police officials, uncovered not only evidence of the illicit business but also a trove of personal data harvested from individuals, signalling a breach of Thailand’s Personal Data Protection Act. Yesterday,…
- Thailand News
Loan shark in Hat Yai nabbed for imposing 120% interest rates
Police in Hat Yai arrested a 62-year-old loan shark for allegedly offering covert loans with exorbitant interest rates of 120% per year, using land title deeds as collateral, and threatening borrowers. The operation was conducted on March 7 under the direction of Major General Warawut Watnakornbancha, Chief of the Special Branch Office 5, along with Lieutenant Colonel Phumiphat Phatarasriwongchai, Chief of…
- Thailand News
Prominent Thai loan shark arrested for illegal pawnbroking business
A 66 year old Sunthorn from the province of Nakhon Si Thammarat, known as a prominent loan shark, was arrested for running an illegal pawnbroking business, lending money with an annual interest rate of 36%. The authorities seized 31 vehicles, warning debtors that they could become criminal suspects. Yesterday, at Na Bon Police Station in the Nakhon Si Thammarat province,…
- Thailand News
Thai CIB crackdown reveals 500 million baht online loan scam
The Central Investigation Bureau (CIB) has launched the CIB Anti Online Scam, a crackdown operation against a ruthless online loan scheme that has been running through various mobile applications. The operation, which took place at 11am today, led to the arrest of two key suspects and the discovery of more than 500 million baht in circulation. CIB’s operation took place…
- Crime News
Illegal high-interest loan scheme busted in Thung Yai, 3 arrested
Cyber police raided three homes in Thung Yai district, Nakhon Si Thammarat today, arresting three suspects involved in an illegal high-interest loan operation. According to the commander of the police, three suspects were apprehended along with mobile phones, bank account passbooks, record books, and documents detailing loan agreements with interest rates exceeding the legal limit of 15% per year. Police,…
