North Cyprus News | the South has loan sharks too

North Cyprus News | Well it seems that even the Police in the RoC are aware of loan sharks. Imagine that, they are aware of loan sharks and it would seem prepared to deal with them in an exemplary fashion. It would seem then perhaps they should extend their advice to report such attempts by these to lend money at extortionate rates and use menaces to force the repayment, to the Banks.

Is this not exactly what the Banks, in both the North and the South of the island are doing, demanding the repayment of loans by menace. Is there any greater menacing threat than that of auctioning off someone’s home. To compound the threat, the home of someone who did not borrow the money, who knew nothing of the loan and never sanctioned the use of their home as security.

Extend that thought to the so called civil offence of FRAUD. Strangely and totally unjustifiably, on both sides of the island the offence of FRAUD is said to be a civil offence. Yet in every civilised society, a fraudulent act is a CRIMINAL offence. If however, as a victim of fraud you wish to claim some monetary compensation in law, then that case would be through the civil courts and would be a Tort, a civil action.

Here in the North, so many people are living in fear of losing their homes through no fault of their own. Indeed as a victim, who has already lost her home to the infamous Akfinans Bank Limited and their loan shark type interest rates of 250% later allegedly reduced to 80% per quarter per annum, I can speak with some authority when I say, this has got to be the most traumatic experience of my entire life so my heart goes out to all you waiting for the axe to fall. Ak in Turkish means white, unsoiled, what a misnomer.

Now the same appears to be about to happen in the South. This time with a Greek Cypriot Bank playing the part of the villian and also aptly named. Alpha, the beginning, watch our Alpha Bank, it could be Alpha – Omega for you. The beginning and the end, if that proves to be so, you will only have yourselves to blame.

Never give in, never give up


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