Debtors fall prey to loan shark ‘managers'

The Star

21 hours ago

Seeking remedy: Chong (centre, seated) at a press conference at Wisma MCA in Kuala Lumpur. — MUHAMAD SHAHRIL ROSLI/The Star
KUALA LUMPUR: Scammers are posing as 'managers' of loan sharks to dupe debtors into settling their debts at a discount, says Datuk Seri Michael Chong.
The MCA Public Services and Complaints Bureau chief said he received 11 complaints of such cases.
Chong said these debtors were contacted by scammers just after they lodged police reports on their previous cases of being harassed by loan sharks.
'Some, after one-and-a-half hours or one day after lodging a police report, will receive a phone call or text message from a so-called 'manager' of the loan shark.
'The scammers told debtors they received a call from the police about the report, and they are willing to settle their debts at a discount,' he said in a press conference yesterday.
Enticed by the discount, some of the debtors would end up depositing a sum, believing they have settled their previous debts.
'Afterwards, when they receive a call from the actual loan shark they borrowed from, only then they realise they had deposited money to a scammer,' Chong added.
MCA Public Services and Complaints Bureau deputy chief Ivan Tan said after studying the 11 cases thoroughly, his team could only determine two possibilities: either it is a conspiracy between the scammer and the loan shark, or an inside job.
'How could the information in the victim's police report end up in the hands of a scammer?
'So, we will gather all the information and pass it to the authorities to investigate,' said Tan.
A man, who only wanted to be known as John, said his predicament began when his wife, a foreigner, had borrowed RM2,000 from a loan shark.
He said the late payment interest eventually accumulated to RM43,500 earlier this month.
John said he then lodged a police report on Aug 11.
After the report, he received WhatsApp messages from an unknown number, claiming to be a manager of the loan shark, offering a discount.
'I subsequently blocked the number. He then contacted me using a different number to threaten me and my family,' said John, who subsequently sought help from Chong.
According to Chong, some of the victims had deposited as much as RM10,000 to these 'managers'.
'We urge all borrowers to lodge a police report if you receive any such messages.
'Remember to check the phone number or bank account to see if it tallies with the loan shark you borrowed from. If it doesn't, they are scammers,' he added.
Meanwhile, Chong said he received a total of 243 cases involving nearly RM25mil owed to loan sharks as of August this year.
'Most of them told me that it (the loan taken) was due to business failure, but I don't believe it, as many of them are also involved in gambling,' he said.