Teen gamblers turn to loan sharks, classmates and parents’ bank accounts

An 18-year-old in Gyeonggi Province borrowed 5 million won ($3,400) from about 10 illegal lenders at interest rates of up to 200 percent to fund his online gambling. After facing threats and other forms of illegal debt collection, he reported his gambling to police under a temporary self-reporting program. His case was just one of 806 cases submitted nationwide during the first two months of the government’s voluntary reporting program for underage online gambling, according to the National Poli

By The Korea Herald