Police crackdown on loan sharks; build list of 1,000 suspects

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BANGKOK, The Royal Thai Police force has put together a list of 1,000 suspects involved in loan sharking across the country and is moving to build evidence to seek warrants for their arrest.

Thailand News - 06-04-17 2 NNT Police crackdown on loan sharks_ build list of 1,000 suspects 1jpg

Deputy Commissioner-General of the Royal Thai Police, Pol Gen Chalermkiat Sriworakhan was briefed via videoconference on the progress of cases involving informal debt and loan sharks. He instructed all nine provincial police divisions to build their cases against informal creditors who arrange loans with illegally high interest rates.

In accordance with due process, the evidence will be filed in court to seek arrest warrants. Most of the 1,000 suspects fall within the jurisdictions of Provincial Police Divisions 1 and 2.

Informal creditors who have not registered with the government are allowed to provide loans at 1.25% interest per month or 15% interest per year.