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Number of complaints against illegal private lenders hits 13-year high in 2025

Published: 01 Mar. 2026, 12:33 Updated: 01 Mar. 2026, 16:15

Employees move cash supplies to be distributed to commercial banks at the Bank of Korea headquarters in Jung District, central Seoul, on Feb. 11. [YONHAP]

The number of complaints filed against illegal money lenders climbed to the highest level in 13 years last year, data showed Sunday.

A total of 17,538 cases involving illegal private lenders were reported to the Financial Supervisory Service (FSS) in 2025, according to FSS data submitted to Rep. Lee In-young of the Democratic Party.

This tally marks the largest figure since 2012, when the FSS set up a center dedicated to gathering such complaints.

In detail, 9,293 cases involved unregistered private lenders, while 4,280 other cases were related to debt repayment, and 1,904 cases involved illegally high interest rates, the data showed.

Industry officials point to tightened lending regulations aimed at stabilizing the housing market as reasons some people with low credit ratings may have been lured by illegal private lenders.

In response, financial authorities announced plans to dispatch 15 personnel nationwide to provide one-on-one support to victims of illegal private loans starting this month.

Yonhap