Police Crack Down on Loan Shark Networks Across Thailand

Georgealbert · March 23

Pictures courtesy of CIB

The Central Investigation Bureau (CIB) has launched a nationwide operation targeting illegal loan shark syndicates in five major provinces, uncovering a multi-million baht illicit lending scheme. The Economic Crime Suppression Division (ECD) led the operation, which resulted in the arrest of eight individuals involved in unlicensed moneylending and the seizure of assets for further investigation.

This crackdown was part of a broader effort by the National Police’s Centre for the Suppression of Influential Criminals, Contract Killers, and Major Offenders, aiming to eliminate predatory lending practices and bring offenders to justice.

Major Operations

1. Ploy Siam Capital Syndicate – Chonburi

Police arrested three individuals, including a key financier known as “Tik”, for operating a loan business with interest rates of 2% per day (730% per year). The gang reportedly used firearms to intimidate borrowers, engaged in illegal street racing, and frequently displayed weapons on social media to instil fear among victims.

2. MC Credits – Khon Kaen

Officers dismantled a social media-based loan shark network operating under the name MC Credits. Suspect Natthanan was arrested for lending at a rate of 1.546% per day (564.43% per year). Victims who failed to meet repayment deadlines were subjected to threatening debt collection tactics, raising concerns over personal safety.

3. White-Collar Loan Sharks – Pathum Thani & Bangkok

A group of three suspects, including Surathin, Ratsarin, and Phattharaporn, was found to be charging exorbitant interest on personal loans. Victims who borrowed 50,000 baht were later forced to repay 250,000 baht, with many losing their assets due to aggressive repossession tactics. Financial records revealed transactions exceeding 10 million baht.

4. Northern Loan Shark Network – Chiang Mai

Authorities arrested Kanya, a notorious illegal moneylender operating in Doi Saket District. She was found to be charging 186% annual interest, primarily targeting motorcycle owners who used their vehicles as collateral.

The operation spanned six key locations across five provinces, leading to:

• Eight arrests on illegal moneylending charges

• Seizure of 11 assets linked to illicit activities

• Confiscation of millions of baht in cash and financial records

The crackdown was led by Lieutenant General Jiraphop Phuridej, Commissioner of the Central Investigation Bureau, alongside senior officers from the Economic Crime Suppression Division.

Police have urged the public to report illegal moneylenders and have pledged to continue efforts to dismantle exploitative financial networks that prey on vulnerable borrowers.

-- 2025-03-24