Government Cracks Down on Illegal Loan Apps and Predatory Interest Rates, Warns Public Against Deceptive Advertising
The government has shut down 57 illegal loan apps charging predatory interest rates and blocked 1,466 related websites, warning the public against scams using false promises of easy, fast borrowing.
May 24, 2025 — Deputy Government Spokesman Ploychonlasuk Laksameesangchan revealed that the government has instructed relevant agencies to coordinate a crackdown on unlicensed lending applications and websites charging exorbitant interest rates. Over the past year, from February 2024 to May 20, 2025, the Bank of Thailand submitted 79 suspicious apps to the Ministry of Digital Economy for Society (DE) for legal action, with authorities confirming that 57 of these apps were unregistered. The DE ministry has petitioned the court to ban these apps from app stores and remove illegal microcredit listings. Additionally, the government has proactively blocked 1,466 URLs associated with predatory lending between October 1, 2024 and May 17, 2025.
Deputy Spokesman Ploychonlasuk noted that scammers are currently deceiving the public through various channels including websites and social media, using enticing claims such as "easy to borrow," "fast approval," "low interest rates," "minimal documentation," and "no collateral needed, even with a blacklist." Victims risk losing personal information such as national ID numbers, house registration documents, and bank account details, or losing money through fraudulent upfront fees and deposits.
"The government urges citizens to verify any loan app's legitimacy by checking the Bank of Thailand's website before borrowing. Search for 'check loan app' to verify the app's registration status. If you've already been deceived and transferred deposit fees or charges, you can immediately report it to the AOC hotline 1441 available 24 hours a day," the deputy spokesman stated.
