530% Interest Loan Shark Network Busted in Huế City
Authorities in Huế have recently dismantled a loan sharking ring that charged interest rates of up to 530% per year, sparking public concern. According to initial investigations, the suspects operated their lending activities via social media and online platforms, advertising quick loans with simple procedures and no collateral required. Taking advantage of borrowers in urgent need of money, the group imposed actual interest rates far exceeding legal limits, … Read more