FSS Takes Action Against Illegal Loan Sharks: Extortion with Nude Photos Exposed

Financial Supervisory Service Supports Lawsuits Against Illegal Loan Sharks

Subtitle: Illegal Activities of Loan Sharks Include Extortion Using Nude Photos

The Financial Supervisory Service (FSS) has taken a stance in supporting lawsuits filed by victims of illegal loan sharks. These loan sharks have been engaging in various illegal activities, such as demanding excessive interest rates and resorting to extortion using nude photos.

One victim, referred to as A, borrowed 200,000 won from a loan shark two years ago when their wages were unpaid. However, A not only faced financial burdens but also suffered severe harassment. The loan shark not only demanded repayment with outrageous interest rates but also threatened to post A’s nude photos on social media if the loan was not repaid.

Other victims have also reported similar experiences, where loan sharks forced them to contact other illegal loan sharks and coerced them into paying inflated interest rates. These loan shark companies went as far as making threatening phone calls to victims’ workplaces, using profanity, and even harassing victims’ parents and children’s schools.

While the illegality of these contracts is evident, completely eradicating them remains a challenge as there are no precedents in this regard. However, the FSS has recognized the prevalence of these illegal loan practices and the absence of lawsuits, leading them to support two victims in nullifying their contracts and seeking compensation through legal action.

The FSS’s objective with these measures is to establish legal precedents by proving the violation of social order and to provide a basis for future lawsuits. The actions of loan sharks not only violate ethical standards but also cause significant financial and psychological harm to the victims. The FSS’s support for victims filing lawsuits demonstrates a commitment to addressing the issue of illegal loan sharks and holding them accountable for their actions.

Nullifying contracts and supporting victims’ claims for compensation are important measures to eradicate the practice of illegal loans and achieve justice for the victims. It is hoped that these measures will prevent the recurrence of exploitative practices and protect vulnerable individuals from the harm caused by illegal loan sharks.

The FSS’s support for victims of illegal loan sharks is a step towards addressing the problem and seeking accountability. The victims’ lawsuits aim to bring attention to the issue of illegal loan sharks and the need for legal action. The efforts to nullify contracts and seek compensation demonstrate a commitment to eradicating illegal loan practices.

The prevalence of illegal loan practices highlights the need for stronger regulations and enforcement in the financial sector. The victims’ lawsuits shed light on the unethical and harmful actions of loan sharks. The FSS’s support for victims of illegal loan sharks is a positive step towards addressing the issue and protecting individuals from exploitation.

The victims of illegal loan sharks have suffered significant financial and emotional harm, and their lawsuits seek justice and compensation. The FSS’s efforts to nullify contracts and support compensation claims demonstrate a commitment to protecting individuals from the harm caused by illegal loan sharks.