Bangkok: Central Investigation Bureau (CIB) police have conducted a raid on a residence known as “Sia Note’s house,” which was operating an illegal loan service exclusively for women, charging an exorbitant interest rate of 1,825 percent per year. The operation also involved threatening and shaming those who failed to repay their debts.
According to Thai News Agency, the raid was carried out by the Economic Crime Suppression Division (ECD) under the leadership of Pol. Lt. Gen. Jirabhop Phuridet, Commissioner-General of the CSD, alongside other high-ranking officials including Pol. Maj. Gen. Thatsaphum Charuprat and Pol. Col. Wijak Tarom. The raid resulted in the arrest of Ms. Sirinart, age 30, who was charged with running a personal loan business without permission, imposing illegal interest rates, and employing threatening debt collection practices.
The search led by Pol. Lt. Col. Bancha Chuayrotmod uncovered significant evidence, including an advertisement board titled “Baan Sia Note, release money, capital for trading,” a debtor information notebook, and loan contract forms. The operation was conducted at a house located in Tambon Tha Pha, Amphoe Ban Pong, Ratchaburi Province, following complaints from victims in Nakhon Pathom, Kanchanaburi, and Ratchaburi.
The investigation revealed that the business operated under the name ‘Baan Sia Note, Lor Morn, Krung Tha Khong’ catered exclusively to female clients, offering loans with minimal requirements such as an ID card. It was discovered that the lender resorted to social media shaming and personal visits to collect debts. The police’s efforts culminated in a search warrant from Ratchaburi Provincial Court, leading to the successful raid and collection of further evidence.
During questioning, the suspect admitted to the loan operations, justifying the focus on female clients as an easier debt collection method. The illegal lending activities had been ongoing in the specified regions for approximately three to four years.
The Central Investigation Bureau has issued a warning to the public against engaging with illegal loan providers, as they often impose excessive interest rates and employ intimidating collection tactics, posing risks to personal safety and property.