Financial Authorities "Actively Promote Prevention of Illegal Private Loan Damage"

On the 27th, financial authorities announced plans to actively promote prevention and response guidelines in collaboration with related agencies and the financial sector to prevent the spread of illegal private loans, a livelihood infringement crime targeting vulnerable groups such as low-credit borrowers.

Recently, illegal private loans have evolved into more sophisticated and malicious methods, such as extorting personal information during the loan process and using it as collateral for threats, or forcing borrowers into high-interest loans they cannot repay. In response, financial authorities emphasized that they are conducting focused promotions so that the public can recognize these risks in advance to prevent damage and receive help if they have been affected.

Considering the nature of illegal private loans that primarily target low-income and vulnerable groups who have difficulty accessing formal financial services, the financial authorities plan to strengthen tailored promotions for vulnerable groups together with the financial sector to ensure that no one is left unaware of prevention and relief systems.

Financial authorities will first conduct promotions in cooperation with local governments nationwide. Each local government will place promotional leaflets containing prevention and response methods, as well as comprehensive guides on victim support systems, in locations with high resident accessibility such as civil service offices and administrative welfare centers. These materials will also be directly distributed to socially vulnerable groups, such as basic livelihood security recipients and near-poverty groups, who have relatively limited access to information.

Additionally, to support victims, banners promoting the debtor representative (lawyer) support system, which is operated free of charge, will be installed in major downtown areas and public places of local governments to ensure that as many people as possible are aware of and can receive support through this system.

The financial sector will also actively guide the public so that they can naturally learn and respond to prevention and response guidelines against illegal private loan damage during financial transactions. Financial associations and companies plan to repeatedly broadcast promotional videos and digital posters through various channels such as branch monitors and outdoor electronic billboards, and place informational leaflets at branches (banks and savings banks).

A financial authority official stated, "Going forward, we will continue to actively cooperate with related agencies and the financial sector to provide guidance through various channels so that the public can easily understand and utilize the systems. We also plan to continuously expand on-site, tailored promotions that proactively reach out to vulnerable groups exposed to illegal private loans."

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