Seven Vietnamese nationals were apprehended in Pathum Thani for running an unauthorised online lending operation, imposing high floating interest rates on Vietnamese clients, reported Thai police yesterday, June 22.
Immigration, cybercrime, and tourist police officers conducted a raid on a residence within a housing estate in Lam Luk Ka district. Security personnel had alerted them to suspicious activities by a group of foreigners moving computers and electronic devices into the property.
Upon their arrival, police requested permission to search the premises from a Vietnamese national at the door, while another foreigner was seen running upstairs. Inside, five additional people were discovered working at computers. One of the seven lacked a passport.
Investigations revealed numerous loan records on the computers, including one with a principal of 8 million Vietnamese dong, roughly equivalent to 10,000 baht (US$305). The debtor was obligated to pay 265,000 dong (approximately 332 baht) daily over 40 instalments, resulting in a 32.5% interest rate, exceeding the legal limit.
The suspects admitted to operating as administrators of the online lending service, promoting loans to Vietnamese citizens via Facebook. They collected personal data from borrowers, instructed them to erase their iCloud accounts, and create new ones, thereby gaining control over their phones.
In cases of missed payments, the suspects would lock the accounts, rendering the devices inaccessible to the debtors. They acknowledged that this activity was a significant offence in Vietnam, prompting their relocation to Thailand, where it remains illegal, reported Bangkok Post.
The Vietnamese nationals, between 19 and 46 years old, were detained and face charges of unlawful group activity and working illegally as foreign nationals, as per the Immigration Police Division 3.
In similar news, a 20 year old woman in Saraburi has been charged for running an illegal loan operation targeting minors, charging interest rates as high as 300%. Known for her aggressive behaviour, she allegedly intimidated borrowers, mostly girls between 13 and 16 years old, who failed to repay on time.
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