This article refers to a predatory lending and extortion practice known as "drop by drop", which is common in many latin-american countries. This name characterizes the practice of extracting money from a victim slowly over time.
The following are common expressions used to refer to this lending and extortion scheme, in english and spanish.
| Spanish | English |
|---|---|
| préstamo gota a gota[1] | drop by drop loan,
drip by drip loan |
| préstamo facilito[2] | easy loan |
| pagadiario | express loan |
These expressions describe a practice that in some countries is considered criminal, in that they offer informal loans with onerous payment conditions.[3] Drop by Drop loans are known for having a high difficulty of making payments, primarily due to high interest rates, which can exceed 500%.
Interest rates are often comparative to or exceed those of "Payday Loans" (as they're commonly referred to in the United States[4]) or other microlending services that may be commonly known in various other countries. [5]
Context
editThe «drop by drop loan» emerged in Medellín in the 1990s,[6] but experienced a significant resurgence in the mid-2010s[7][8] in Colombia and other Latin American nations.[9] In Perú, criminals, recruit victims through advertising in various forms, including street posters, virtual media and phone calls. According to the National Police, these criminals are often foreigners.[3] The loans range between one thousand and ten thousand soles and payment must be made daily.
The drop by drop loan is distinguished by its high interest rates. According to the peruvian Institute of Economics, the figure is 500%. However, approximately 10% of loans carry rates above 10,000%. [10]
Those who fail to make payments are subject to extortion and intimidation to ensure compliance with the established deadline (usually one month). [7][11] These acts grew significantly in Peru between 2021 and 2023.[12] Victims may also be forced to transport drugs as a means of settling debts.[13]
It has been discovered that individuals engaged in this activity are trained in «bootcamps» that provide them with instructions on their operations. [14][15] To compete with legitimate financial institutions, criminal organizations establish facades that resemble these institutions. [16] Furthermore, as highlighted in the report of La Encerrona by Marco Sifuentes, this practice has expanded to the development and promotion of official-looking mobile lending apps as well.[17][18]
Due to the wide proliferation of this practice, it is common to see posts advertising fast-money loans with weekly payments posted in various social media groups.
See also
edit- Crime in Peru
- Extortion
- Hitman
- Tren de Aragua
- Tren de Aragua en Perú
References
edit- ^ Doherty, Sean (2024-03-28). "Financial Vulnerability Fuels Predatory Crime in Peru". InSight Crime. Retrieved 2024-10-04.
- ^ Cornejo, Deyna (2023-05-09). "Con sueldos y gimnasio: así funcionan las "academias" de extorsión gota a gota en el Perú". larepublica.pe (in Spanish). Retrieved 2024-10-04.
- ^ a b "Las 5 claves para detectar préstamos 'gota a gota' y pueden terminar en extorsión". Gestión (in Spanish). 2023-04-23. Retrieved 2023-05-12.
- ^ "What Is A Payday Loan? – Forbes Advisor". www.forbes.com. Retrieved 2024-10-04.
- ^ S.A.S, Editorial La República (18 February 2019). "Interés del 'gota a gota' es siete veces más alto que el de los microcréditos". Diario La República (in Spanish). Retrieved 2023-06-02.
- ^ "Gota a sangrienta gota". Caretas (2683): 19. 6 July 2023. Archived from the original on 28 July 2023. Retrieved 28 July 2023.
El préstamo gota a gota nació a finales de los noventaen Medellín
- ^ a b "Qué son los préstamos "gota a gota" que grupos criminales de Colombia exportan al resto de América Latina" (in Spanish). BBC News Mundo. Retrieved 2023-05-12.
- ^ "¡Alerta! no consigas un préstamo por medio de afiches o te pasará esto". Correo (in Spanish). 2016-10-20. Retrieved 2023-05-12.
- ^ "El 'gota a gota' rebosa el límite de la delincuencia. Juan Diego Alvira habló con uno de estos usureros, la única opción de miles para sobrevivir". Semana.com Últimas Noticias de Colombia y el Mundo (in Spanish). 2022-11-01. Retrieved 2023-05-12.
- ^ "Tope de tasas de interés aumenta mercado informal del crédito, incluido el gota a gota". Sudaca. 26 March 2024. Retrieved 2024-04-03.
- ^ ""El préstamo gota a gota es un delito"". www.gob.pe (in Spanish). Retrieved 2023-05-12.
- ^ "'Gota a gota' y extorsión se disparan en Perú". El Nuevo Siglo (in Spanish). 30 March 2024. Retrieved 2024-04-03.
- ^ CORREO, NOTICIAS (2023-05-11). "PNP revela que víctimas del 'gota a gota' ahora son obligados a convertirse en burriers | Policía Nacional del Perú | EDICION". Correo (in Spanish). Retrieved 2023-05-12.
- ^ Cornejo, Deyna (9 May 2023). "Con sueldos y gimnasio: así funcionan las "academias" de extorsión gota a gota en el Perú". larepublica.pe (in Spanish). Retrieved 2023-05-12.
- ^ Sourtech. "Préstamos 'Gota a Gota': PNP revela que mafias instalan escuelas de formación en donde a los "graduados" les regalaban motocicletas - Exitosa Noticias". www.exitosanoticias.pe (in Spanish). Retrieved 2023-05-12.
- ^ Espinoza, Por Analí (2024-03-20). "Mafias de los 'Gota a Gota' operan bajo la fachada de financieras: hay más de 2 mil operando ilegalmente". infobae (in European Spanish). Retrieved 2024-03-20.
- ^ "Cómo funciona el negocio del 'gota a gota' virtual en Perú y la sospecha de que un multimillonario chino esté detrás". infobae (in European Spanish). 31 May 2023. Retrieved 2023-06-02.
- ^ "Identifica las aplicaciones móviles empleadas en los préstamos gota a gota". Buena Pepa (in Spanish). 2023-10-15. Retrieved 2024-01-16.