Police set up 'illegal gold money investigation team' in YTN report

The police have decided to set up a dedicated investigation team on illegal private financial collection activities while a woman in her 30s who was raising a 6-year-old child alone died after being bullied by loan sharks.

Woo Jong-soo, head of the National Investigation Headquarters, ordered a special crackdown on illegal private finance targeting ordinary people in a video conference attended by the National Police Agency and the police station's investigation command today (14th).

The police plan to extend the nationwide special crackdown on illegal private finance until October 31 next year, and set up a dedicated investigation team at police offices and front-line police stations across the country to quickly launch an investigation.

In addition, we plan to actively pursue compensation for excellent arrest cases, such as arresting illegal private financial organizations, to secure momentum for the crackdown.

Woo said he was heartbroken by the story of a single mother who died of illegal collection over her young daughter and said a strong crackdown system should be maintained until illegal private finance is completely eradicated.

The number of illegal private financial damages reported to the police in the 10 months from January was 2,789, up 58% from the same period last year.

In the first 10 months of this year, the number of illegal private financial detection and arrests by the police also increased by 44% and 64%, respectively, from last year.