Preventing and stopping "black credit" crimes

Many cases that have been busted and prosecuted recently show that "black credit" activities are increasingly sophisticated, causing serious consequences for people's lives.

According to the Provincial Police, in the first six months of 2025, functional forces discovered and dismantled many cases related to "loan sharking" activities, prosecuting 11 cases with 15 defendants, and seizing an estimated 2.5 billion VND in illicit profits, with interest rates of 54-56% per year.

Typically, in June 2025, the Criminal Police Department of the Provincial Public Security initiated legal proceedings against 5 individuals for the crime of "usurious lending in civil transactions" in the form of pledging mobile phone iCloud accounts, conducted online. This group carried out more than 9,000 usurious lending transactions with thousands of victims across many provinces and cities nationwide. Initially, authorities determined that the illicit profit amounted to over 5 billion VND, corresponding to an exorbitant interest rate of up to 30% per month. Notably, in one case, the perpetrator was a bank employee directly committing the crime (Nguyen Thu Hoai, an employee of the Cam Pha branch of the Social Policy Bank, repeatedly lent money at an interest rate of 109.5% per year, earning illicit profits of over 315 million VND).

Previously, in September 2024, in Mong Cai, Nguyen Van Duc was discovered lending money to many individuals at interest rates of nearly 200% per year. His actions caused many people to fall into dire straits, risking bankruptcy and disrupting public order and security. The case was handled strictly, creating a clear deterrent effect.

The Criminal Investigation Department works with the Bai Chay Ward Police to assess the security and order situation. Photo: Thanh Trung (Criminal Investigation Department, Provincial Police)

According to authorities, loan sharks are increasingly using new tactics to control borrowers. Besides operating under the guise of pawn shops or financial institutions, they are also exploiting advanced technology. Some cases show lenders requiring borrowers to pawn their iPhone's iCloud account, thereby gaining control of the phone and contacting relatives to pressure them into paying the debt.

The consequences of "loan sharking" are not only a financial burden for victims, but also lead to many other social repercussions such as conflicts, violence, threats to life, and disruption of local security and order. Faced with this situation, the Provincial Police have proactively advised the Provincial People's Committee to implement a comprehensive set of solutions: launching a high-intensity campaign to attack and suppress "loan sharking" crimes, prosecuting and quickly handling cases to deter future offenses; applying modern technology in investigating and detecting crimes, especially in cyberspace; strengthening state management of pawnshops, financial services, residency, and foreigners; coordinating with departments, agencies, and organizations to both combat and support people in accessing legitimate loans…

Officials from the Cam Pha Social Policy Bank conduct transactions in Hai Hoa commune. Photo: Cao Quynh

The province also clearly stated that the fight against "loan sharking" does not rely solely on the police force, but also requires the involvement of the entire political system. Accordingly, it is necessary to continue promoting awareness through various visual and accessible methods, tailored to different target groups; departments and agencies should coordinate with relevant units to effectively implement mechanisms and policies on social security, poverty reduction, and job creation for workers, in order to limit individuals from exploiting unemployed or low-income workers to lend money at exorbitant interest rates and commit illegal acts; and at the same time, encourage people to actively participate in local crime prevention groups via Zalo, and report crimes…

"Black market lending" is a dangerous trap, with interest rates many times higher than legally permitted, posing unpredictable consequences and threatening social life, creating a vicious cycle of debt and leading to many other social ills. To combat this type of crime, in addition to the proactive efforts of authorities, each citizen needs to raise their vigilance, equip themselves with legal knowledge, and be aware of and cautious about the "trap" of black market lending. This is not only to protect their own legitimate rights but also to contribute to maintaining security and order in the area.

Tran Thanh

Source: https://baoquangninh.vn/phong-ngua-ngan-chan-toi-pham-tin-dung-den-3375267.html