Vietnam police break up loan shark ring demanding nude photos as collateral
The ring charged interests of up to 365 percent a year
Vietnam police bust loan shark rings charging yearly interest of up to 720%
The two groups of illegal lenders had lent their money to nearly 500 people from April to August 2020
Saigon police bust Chinese-led ring operating loan shark apps with over 60,000 debtors
Two Chinese citizens and three Vietnamese were arrested
Chinese, Vietnamese suspects nabbed for loan-sharking on mobile apps
Loans offered on the apps have an interest rate of four percent per day if the debts are not cleared within the first six days
Loan sharks terrorize debtors with few keyboard strokes in Ho Chi Minh City
Loan sharks can charge an annual interest rate of up to 300 percent
Hollywood-like violence flares over debt recovery in northern Vietnam
The weapons include a gun, swords, knives and metal bars
Multiple firearms seized as loan shark nabbed in southern Vietnam
The man had disguised his usury business as a credit firm