Illegal private financial crime damages with murderous interest rates well above the statutory maximum rate of 20% per annum have surged this year, the report showed.
According to data from the National Police Agency, 2,789 cases of illegal private financial damage were reported in the 10 months from January, up 58% from the same period last year.
The police detected 1,671 cases and arrested 3,000 related criminals through a special crackdown on illegal private finance until October this year, which is also a 44% and 64% increase from the same period last year.
The recovered criminal proceeds were also 16.9 billion won, 4.6 times higher than last year's 3.7 billion won.
The Ministry of Justice and the police are taking a number of measures, including strengthening crackdowns, after YTN's earlier report revealed that a single mother in her 30s who was raising a 6-year-old child alone died after being bullied by loan sharks.
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