The Department of Migrant Workers (DMW) has partnered with authorities in Hong Kong following suicide cases attributed to financial problems.
During a Senate hearing of the Committee on Migrant Workers on Wednesday, DMW Secretary Hans Cacdac revealed that the agency has partnered with the Hong Kong Police to track down loan sharks who aggressively pursue debt collection from overseas Filipino workers (OFWs). He further noted that some OFWs are burdened with interest rates as high as 48 percent.
“Unfortunately, in Hong Kong, the 48 percent interest rate is legal, so loan sharks cannot be arrested. But for those who harass borrowers, we partnered with the Hong Kong Police Force to crack down on those who aggressively collect debts,” Cacdac said.
The DMW Secretary also cited a larger loan syndicate case, in which OFWs are given an amount of money in exchange for access to their ATM or bank account information, only to have those accounts later used for money laundering activities.
“We provide them with a lawyer. Unfortunately, they are implicated in money laundering, but what we do is limit the period of their imprisonment or confinement in jail.”
There are several initiatives from the DMW and the Overseas Workers Welfare Administration (OWWA) to prevent OFWs from accumulating loans from unauthorized lending, such as financial literacy programs.
The agency is also cooperating with the Financial Intelligence Unit of the Hong Kong Police Force, which directly involves the police during Filipinos’ Post-Arrival Orientation Seminar (PAOS), where warnings on loans and money laundering syndicates are given.
However, Cacdac said that loan sharks can be very skilled and aggressive in promoting loans.
Apart from financial issues, OWWA also noted that dilemmas in romantic relationships of Filipinos in Hong Kong are contributing to mental distress. To date, 12 OFWs have died by suicide in Hong Kong from 2023 to 2025, with six in 2023, four in 2024, and one case this year.
The most recent case involves a 44-year-old Filipina domestic helper who was found dead in a suspected suicide at a residence in Discovery Bay on 16 April. Initial investigations suggest that the Filipina had financial struggles.