The Crackdown on Illegal Private Loans Shows Strong Results... Continuing Until October Next Year
1046 Cases Arrested Until Last Month
20 Percentage Points Increase Compared to Last Year
Seized Amount Also 5.14 Billion KRW
[Asia Economy Reporter Seongpil Cho] The police announced on the 21st that they arrested 1,819 people and confiscated approximately 5.14 billion won while intensively cracking down on illegal private loan crimes until October this year.
According to the National Police Agency, as a result of strengthening crackdowns to eradicate illegal private loans this year, the number of arrests increased by about 20 percentage points to 1,046 cases compared to 872 cases during the same period last year. The number of people arrested and the amount confiscated also increased by 2 percentage points and 2.6 times, respectively, compared to the same period last year. The police added that they arrested 598 people in 566 cases related to the three major criminal tools newly targeted this year: burner phones, fake bank accounts, and illegal distribution of personal information.
The police decided to extend the planned crackdown on illegal private loan crimes, originally scheduled until the end of this year, until October next year. This is in line with the government's formation of the "Whole-of-Government Task Force (TF) to Eradicate Illegal Private Loans," led by the Office for Government Policy Coordination, and the establishment of a whole-of-government working-level consultative body centered on the National Police Agency, aiming to strengthen comprehensive responses. The police plan to focus on cracking down on criminal acts, criminal tools, and retaliatory crimes against damage reports.
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The police also added that they improved the investigation request process received from the Financial Supervisory Service (FSS). When the FSS separately manages debt collection cases involving physical and mental harm and notifies the police, the police will prioritize investigation measures. A National Police Agency official stated, "We will consolidate cases with nationwide damage for focused investigation and thoroughly ensure the confiscation of criminal proceeds."
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