Police investigating cases of illegal loans

The Judiciary Police (PJ) is investigating crimes related to illegal loans, according to the Office of the Secretary for Security.

The PJ’s statement came in reply to lawmaker Song Pek Kei’s inquiry regarding advertisements for property and vehicle loans.

The lawmaker wrote an inquiry to the local government, pointing out the occurrence of illegal loans. Song noted that the illegal loans had defrauded a number of residents.

The lawmaker pointed out that loan advertisements, which appear at bus stops, on road light pillars, on external walls of buildings, and on parking meters, have created severe disturbances in the lives of residents and resulted in big financial losses for them.

Song proposed to the government that it should not only crack down on this illegal situation but should also remove in due time all illegal loan advertisements.

Some of Song’s questions were related to investigation procedures regarding suspected illegal loan cases, and difficulties in cracking down on such cases. She also proposed that the government increase the penalties for illegal loans, establish a report mechanism, and enhance cooperation with local communities.

The reply, which came from Secretary Wong Sio Chak’s office, pointed out that if illegal loans relate to enormous profits and gambling, they are a criminal offence, and in relation to specific cases which are being investigated by the PJ, no further information can be disclosed due to the principle of judicial secrecy.

Wong also quoted the advice of the Monetary Authority of Macau (AMCM), saying that the AMCM is promoting the revision of the legal regulations for the financial system and that it hopes to increase the penalties for illegal loans in addition to considering the criminalization of such practices. JZ