Cyber police dismantled a major high-interest loan shark network in northern Thailand's Phitsanulok province, charging a daily interest rate of 20 percent. The network had about 1,000 clients and handled transactions exceeding 120 million baht.
On 22 Oct 2021 GMT+7, Pol. Lt. Gen. Thinkorn Rangmat, Commander of the Cyber Crime Investigation Division, along with Pol. Maj. Gen. Arut Saengchan, Deputy Commander, ordered Pol. Maj. Gen. Kritsach Bamrungrattanayoth, Commander of Division 4, Pol. Col. Damrongsak Onta, Pol. Col. Norawat Kamphilo, Pol. Col. Supakorn Thanyakam, Pol. Col. Somchai Theeraphatpaisan, and Pol. Col. Komsan Meepakdi, Deputy Commanders of Division 4, Pol. Col. Natthaphon Rattanamongkolsak, Head of Unit 3, Division 4, and Pol. Lt. Col. Songkrod Masom and Pol. Lt. Col. Nonsamut Bowsuwan, Deputies of Unit 3, to lead a raid on three locations to dismantle a large illegal loan network in Phitsanulok province with transactions exceeding 120 million baht.
Pol. Lt. Gen. Thinkorn Rangmat explained that the operation began after investigators from Unit 3 discovered a Facebook page named “Phitsanulok-Phetchabun Loans” active for over four years. This was a large illegal loan network based in Phitsanulok, structured systematically with roles divided among loan desk owners, system administrators, branch leaders, and debt collectors. They used multiple online platforms and bank accounts for financial transactions and managed operations by region. The network involved over 100 members and about 1,000 clients, including businesspeople, small traders, students, and officials at various levels. Their system circulated more than 10 million baht monthly, totaling over 120 million baht annually.
Authorities also found that the network charged a daily interest rate of 20 percent, known as "floating interest," which is above the legal limit. They operated an unlicensed personal loan business. After gathering evidence, police obtained search warrants from the Phitsanulok Provincial Court to raid three residences linked to the network in Samo Khae Subdistrict, Mueang District, Phitsanulok province.
The raids resulted in the arrest of six network members: four branch leaders controlling debt collection—Mr. Attaphon, 25; Mr. Sawat, 32; Mr. Phanuwat, 24; and Mr. Chavalwit, 45—who supervised debt collectors across lower northern provinces.
Additionally, two system administrators and loan desk owners were arrested: Mr. Thanakorn, 40, serving as system admin, and Mr. Yodying, 44, the illegal loan desk owner. Confiscated items included 52,320 baht in cash, a 9mm semi-automatic pistol with 29 rounds, 10 mobile phones, 2 computers, and loan advertisement business cards with QR codes linking clients to the loan contact LINE system. All suspects confessed during initial questioning.
Police charged the suspects with operating an unlicensed personal loan business and lending money or concealing lending activities while charging interest rates exceeding legal limits.