Police Guard Banks to Prevent Loan Sharks from Seizing 10,000 Baht Handout

[webfact]

 

In response to alarming reports of loan sharks preying on vulnerable individuals receiving a 10,000 baht government handout, police across the country have been deployed to guard banks.

 

Starting from September 25, these measures have been particularly stringent in Maha Sarakham, where police teams have fortified security at the Bank for Agriculture and Agricultural Cooperatives (BAAC) and other local bank branches.

 

Pol. Col. Kraithong Chaisingh, head of the Maha Sarakham city police station, confirmed that officers were sent to maintain order at these locations, which have seen a surge in activity as farmers and individuals from “fragile” groups rush to withdraw their funds. Many recipients have been checking their accounts to see if the funds have been deposited, with some using ATMs while others queue up to withdraw cash from bank tellers.

 

Authorities have instructed policemen to be on high alert for informal lenders trying to claim the cash from recipients at ATMs. Those feeling threatened by such individuals have been urged to immediately contact the police for assistance.

Ms. Pusaya Tangthong, manager of the local BAAC branch, noted that the bank has been seeing large crowds daily. People are keen to update their passbooks and confirm the arrival of their 10,000 baht giveaway. Due to high demand, the bank has been issuing 200 queue tickets each day but faces challenges due to limited counters, reported Thai Newsroom.

 

Adding to the delays, not all visitors are there solely to withdraw the grant. Several are applying for new passbooks or ATM cards, often because their existing ones are lost or their accounts have been inactive for over a year, necessitating the opening of new accounts.

 

These processes are time-consuming, causing the bank's operating hours to extend significantly. Over the past three days, the branch has operated until 5 p.m. instead of the usual 3.30 p.m., with staff only leaving after 7.30 p.m.

 

The enhanced police presence aims to ensure that the intended recipients of the government's handout receive their money safely and without falling victim to predatory lending practices.

 

Picture courtesy: MGR Online

 

-- 2024-09-27

 

[lordgrinz]

God, I hate it when I am right.

[Kinnock]

Unfortunately because the majority of people receiving the handout will be in debt, it's inevitable the 10,000 THB will end up in the hands of loan sharks.

 

But they must have known that when they proposed the vote buying scheme.

[hotchilli]

5 hours ago, Kinnock said:

But they must have known that when they proposed the vote buying scheme.

They don't care.

They have to honour the bribe, water it down as much as possible, restrict it too as few as possible and claim it will still save the economy.

 

[tandor]

near me the same well dressed, well-nourished folk that buy a fistfull of lottery tickets twice a month were lining up at the ATMs, late model motor cys and cars everywhere..i thought LaLisa was in town!

[thesetat2013]

Enhanced police protection? 5 cops in a bank for show. IF there was even one cop in the banks it would leave the police station empty. Not only that though. how do the police know that a person is a loan shark if he is accompanying someone and walking out with them together to get their money once they leave the bank. I know loan sharks do stupid things to collect their money but, sitting in the bank demanding the cash the instant it is given is not one of them. So this action by the police is a complete waste of time and resources. Simply a chance to make a photo op to promote them. 

[john donson]

what if the loansharks are the same people as...

[jacko45k]

8 hours ago, Kinnock said:

Unfortunately because the majority of people receiving the handout will be in debt, it's inevitable the 10,000 THB will end up in the hands of loan sharks.

 

But they must have known that when they proposed the vote buying scheme.

Only paying back what they owe already. I believe those who have the 10,000 directly deposited, may well see less due to what they owe the banks too!

[jcmj]

As if these loan sharks don’t know where the people live. They will get it one way or another. 

[brianthainess]

31 minutes ago, john donson said:

what if the loansharks are the same people as...

Ask 'em for a loan ?

[jacko45k]

1 minute ago, jcmj said:

As if these loan sharks don’t know where the people live. They will get it one way or another. 

Just have to be quick, like the Scottish wives waiting at the factory gates on payday!

[Tropicalevo]

Too late.

The  banks themselves are loan sharks.

That one example where the lady checked her bank balance and the bank had already deducted 6,000 baht.

[Sydebolle]

How about adjusting the law and put a ceiling on interest rates, irrespective of transaction party. If the interest rate would be at the bank's level, the loan sharks would pull the plug and look for some other trade. 
There are some guys out there who charge 2% and 3% per month, sit on a collateral which puts the loan very safe and in many case the collateral ends in the loan shark's corner. 

Thailands worst enemy is its own people!