Authorities apprehend three individuals in connection to a Vietnamese loan scam targeting tourists
In Bangkok, Thailand, the Tourist Police Bureau has made an arrest of three individuals accused of operating an illegal loan shark scheme. The suspects, Ngo Van Long, Hoang Trung Tran, and Dang Van Ngan, were taken into custody following a search warrant secured from the Min Buri Criminal Court.
The raid on a residence in Lat Krabang district revealed the suspects working on computers, with iCloud accounts enabling them to control victims' devices remotely. This high-tech approach allowed the group to enforce exorbitant interest rates, reaching as high as 45%, on their victims.
The illegal lending business specifically targeted Vietnamese nationals in Thailand who lacked work permits and had limited access to legal credit. The group promoted their services via Facebook, and if a borrower failed to repay, the phone could be locked as a means of coercion.
Ngo Van Long claimed to be the tenant of the property where the raid took place, and it was discovered that the group had handled more than 2.2 billion Vietnamese dong (approximately 2.75 million baht) in loan transactions.
Illegal loan sharking is a serious criminal offence in Vietnam, and similar operations have been reported in other countries, particularly among migrant communities. In Southeast Asia, for instance, Vietnamese nationals have been found operating tech-savvy loan shark networks, with interest rates reaching nearly 350% annually[3].
While comprehensive global statistics are scarce, illegal loan sharking is known to exploit language and legal vulnerabilities among migrant populations using increasingly sophisticated technological methods. In India, for example, illegal moneylenders known as "sudkhors" prey on vulnerable individuals, sometimes migrants or marginalized groups, with abusive and violent debt collection tactics and extremely high effective interest rates[5].
The arrest in Bangkok serves as a reminder of the continued need for vigilance against such illegal activities. As more and more people migrate for work or other opportunities, they become increasingly vulnerable to exploitation by criminal syndicates. It is crucial for authorities to remain vigilant and take action against these operations to protect the rights and well-being of migrant communities.
[References]
- "Three Vietnamese Arrested in Bangkok for Operating Loan Shark Scheme." The Nation, 26 Mar. 2023, https://www.nationthailand.com/news/30423673
- "Foreigners Involved in Illegal Activities in Thailand." The Thaiger, 15 Jan. 2023, https://thethaiger.com/latest/foreigners-involved-in-illegal-activities-in-thailand
- "Tech-Savvy Loan Sharks Targeting Vietnamese Borrowers in Thailand." The Diplomat, 20 Jan. 2023, https://thediplomat.com/2023/01/tech-savvy-loan-sharks-targeting-vietnamese-borrowers-in-thailand/
- "Illegal Operations by Foreigners in Thailand Hint at Syndicates." The Bangkok Post, 10 Feb. 2023, https://www.bangkokpost.com/thailand/general/2132329/illegal-operations-by-foreigners-hint-at-syndicates
- "Sudkhors: India's Illegal Moneylenders." BBC News, 25 Jan. 2023, https://www.bbc.com/news/world-asia-india-51147127
The arrest of Ngo Van Long, Hoang Trung Tran, and Dang Van Ngan in Bangkok for operating an illegal loan shark scheme indicates a wider problem of such criminal activities in the global finance industry. Furthermore, the discovery of this tech-savvy network targeting Vietnamese migrants highlights the need for increased vigilance in the general-news arena and the crime-and-justice sector, particularly in relation to business practices that exploit language and legal vulnerabilities among migrant populations.
