PHNOM PENH: The Department of Technology Crimes, in cooperation with the Phnom Penh Municipal Police, arrested three suspects on July 9, for acting on behalf of illegal online loan companies and threatening people for repayment.

After questioning, the three suspects confessed that they had worked as agents for an online lending company and that they had acted as lobbyists and borrowers for those lenders, often threatening those who do not pay on time. The investigation found that the loan companies were unlicensed and did not seek permission from the National Bank of Cambodia.

The department sent the three suspects to the Phnom Penh Municipal Court for legal action on the morning of July 11, and continue to search for ringleaders and accomplices in the scam.

An agreement between the General Commissioner of the National Police and the National Bank of Cambodia was announced in January, which decided upon strict legal action against purveyors of illegal loans and all forms of advertising related to the provision of unauthorized financial services.

The joint statement also advised people to avoid borrowing money from informal financial service providers without the permission of the National Bank and to help the relevant authorities to take legal action in a timely manner. People with information related to illegal lending activities can report to the National Bank of Cambodia through one of five telephone numbers: 088 600 002, 085 600 003, 098 220 001, 098 220 002 and 097 278 3030.