GET TOUGH:
Sue Bradford, Green Party Spokesperson on Gambling Issues wants tough measures to curb the activities
of loan sharks.

Why victims of terror tactics shy away from Police?

Disturbing allegations about loan sharks operating within casinos made headline news recently.

A related story that did not make the news is one of Mums and Dads, business people and students in debt, who are forced to borrow money at exorbitantly high interest rates from loan sharks and are subjected to terror tactics when they default on payments.

Oh Tung, a Chinese businessman (not his real name), told us how he got caught in the web of a loan shark. Business was not doing too well and I had trouble paying for my lease vehicle and other bills.

"I was introduced to this loan shark by a shopkeeper. He asked for collateral security before shelling out any money. I showed him watches and jewellery worth over $10,000 but he only offered a loan of $2,000 against this, with a very high weekly interest rate."

"I kept on paying the interest on the loan until one day I had to stop as my business went belly up. The loan shark started hounding me for payment and intimidated me with tales about the consequences of defaulting - he said one victim had his hand cut off recently and others had legs broken or were severely beaten."

One day when I re-turned home from the supermarket I found that someone had sprayed droplets of paint all over my car. They had also punctured all the tyres.

It was quite a shock to see your brand new car covered with blobs of paint.

I reported the incident to the Police and a lady Police Officer paid me a visit to investigate the complaint. "When she asked who could have done this, I chickened out from mentioning the loan shark in case of further reprisals."

The next time I met the loan shark I asked if he had damaged my car, he replied it was not his style.

"As the loan had now ballooned out with the snowballing interest rate, I borrowed money to pay all the interest arrears and he was delighted to keep all the jewellery with no refunds for the difference."

There is a need for much stronger net than the Government's new so-called 'get tough' crackdown on loans sharks says Green Party Spokes-person on Gambling Issues, Sue Bradford.