Gyeonggi Special Judicial Police Intensify Crackdown on Illegal Private Loans Ahead of Chuseok

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province is launching a crackdown on illegal private loans ahead of Chuseok.

The Gyeonggi Province Special Judicial Police for Fairness announced on the 25th that from the 29th of this month to the 30th of next month, it will designate this period as the "Intensive Investigation Period for Illegal Private Loans" and will work to prevent illegal private loan crimes targeting low-credit borrowers and small business owners.

The main investigation targets are ▲ unregistered lending activities targeting socially and economically vulnerable groups such as low-credit borrowers, small business owners, and housewives ▲ lending activities exceeding the legal maximum interest rate both online and offline ▲ false or exaggerated advertising on online loan platforms ▲ distribution of illegal loan advertisements around major shopping districts and traditional markets.

The special judicial police will focus on urban areas where illegal loan flyers are frequently distributed, collecting illegal advertisement flyers and working to suspend the use of the phone numbers listed in the advertisements.

They also plan to arrest distributors on the spot using the "mystery shopping" investigation technique.

The mystery shopping investigation technique involves investigators posing as customers to call the phone numbers on illegal advertisements, visit the companies, collect investigation materials, and manage databases (DB).

Kim Ji-ye, Director of the Gyeonggi Province Fairness Bureau, emphasized, "There is a concern that illegal private loans may spread targeting those in need of funds such as small business owners and low-credit citizens ahead of Chuseok. We will do our best to protect socially vulnerable groups by conducting an all-out intensive crackdown on illegal private loans until the end of September."

This content was produced with the assistance of AI translation services.