Police are working with the Finance Ministry to crack down on illegal money-lending rackets, as more than 700 loan sharks have been blacklisted by authorities. The Royal Thai Police received a list of 762 loan sharks operating nationwide from the Finance Ministry, based on complaints lodged by victims of illegal money lenders. Pol Lt Gen Chaiwat added that some loan shark operators exploit consignment land sale contracts to acquire land belonging to debtors. Boonchai Charassangsomboon, an adviser on international economics at the Fiscal Policy Office under the Finance Ministry, said several measures were recently implemented to solve the loan shark problem. The latest measure is to use police to help debtors mediate debts with loan sharks, with prosecutors overseeing the process, he said.

Source: Bangkok Post May 16, 2018 23:48 UTC