HongKong

Hong Kong police bust loan shark syndicate that targeted Filipino domestic workers with interest rates as high as 195 per cent a year




Hong Kong police on Wednesday cracked down on a loan shark syndicate that had been preying on Filipino domestic workers headed to the city, lending them HK$23 million at interest rates as high as 195 per cent a year – triple the permitted rate.Officers arrested two men and two women, locals aged 52 to 74, across North Point, Wong Tai Sin and Western district on Wednesday for money laundering and lending money at an excessive rate.An initial investigation showed that from January 2019 to…



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