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  1. #1
    Thailand Expat misskit's Avatar
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    Chinese Loan Sharks Targeted By DSI 157 Bank Accounts Frozen

    The Department of Special Investigation (DSI) has frozen 157 bank accounts containing more than 1.5 billion baht belonging to a gang of predatory lenders from China.


    The illegal gang was found to have offered loans through apps that imitate the names of several well-known legal money lenders, according to Pol Lt Col Korrawat Panpraphakorn, the DSI director-general.


    The agency has acted after complaints were lodged by victims via the DSIís Rootan app.


    Pol Lt Col Panpraphakorn said the complaints were directed at 30 money lending apps which charged exorbitantly high interest rates.


    The DSI recently raided two offices in Bangkok operated by the gang and arrested a Chinese national identified as Pin Liew, 35.


    He has been charged with running an organised crime, importing false information into a computer system and conspiring to extend loans for which the interest is higher than legally allowed.


    According to the DSI, in some cases, the gang demanded interest totalling at least 750% per year. The interest, however, was charged under the guise of various fees.


    If customers defaulted or delayed repayments, the gang would post their pictures on the internet to humiliate them and impose a late fee of between 400-600 baht per day.


    The DSI investigation revealed the gang had at least 157 bank accounts with more than 1.5 billion baht in them.


    Pol Lt Col Panpraphakorn said the gang also terrorised victims by calling them frequently to chase after the debts. It followed customers using their personal data supplied when they registered to apply for the loan.


    The DSI chief said the gang had almost unrestricted access to customer information on their social media platforms including Facebook and Line Chat app.


    Some victims also received calls from the gang on their mobile phones. The DSI also said the gang threatened to expose victimsí poor credit history and told them it could cost them their jobs.

    Chinese Loan Sharks Targeted By DSI – 157 Bank Accounts Frozen | Chiang Mai One

  2. #2
    Thailand Expat TheRealKW's Avatar
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    About time

  3. #3
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    Money lenders only respect their own medicine.
    Last edited by Joe 90; 16-01-2021 at 07:31 AM.

  4. #4
    Chinese spy
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    So the Thai Chinese moneylenders don't like foreign competition. What a surprise.

  5. #5
    Thailand Expat
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    The Indians have been on this for years, then again they do work along side the Thai police.

  6. #6
    Hansum Man! panama hat's Avatar
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    Quote Originally Posted by misskit View Post
    Chinese Loan Sharks Targeted By DSI 157 Bank Accounts Frozen


    Quote Originally Posted by sabang View Post
    Thai Chinese
    Quote Originally Posted by Chico View Post
    The Indians
    Quote Originally Posted by Chico View Post
    Thai police.

    Never fear, TD's very own crime fighting unit has declared . . .

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