KUALA LUMPUR: A 34-year-old woman has been living in fear after being threatened by illegal moneylenders, following a series of unlicensed loans she took out through social media advertisements.
Her debts eventually ballooned to more than RM100,000.
Brickfields police chief Assistant Commissioner Hoo Chang Hook said the victim first borrowed RM2,000 through an agent but only received RM1,400. She repaid RM2,000 in July.
“Later, on Oct 28, she received another loan offer of RM4,000 via WhatsApp.
“Although she refused, the parties involved allegedly threatened and coerced her into agreeing. She received only RM2,100 but repaid RM1,500,” he said when contacted today.
Hoo said the woman then began receiving numerous loan offers from unknown numbers and ended up taking out 16 loans from individuals claiming to be licensed lenders.
“In total, she borrowed RM126,600 and has repaid RM151,400.
“However, the lenders continue to demand additional payments and have issued threats over delayed repayments,” he said, adding that all payments were traced to several accounts believed to be linked to the same syndicate.
The case is being investigated under Section 5(2) of the Moneylenders Act 1951.
In a separate case, Hoo said a 65-year-old man lost RM659,000 in an online investment scam.
He said the victim’s phone number was added to a WhatsApp investment group on Sept 12, where he was offered an “off-market” investment supposedly operated by a financial institution and dealt with a man and a woman representing the scheme.
“Enticed by promises of high returns, the victim made eight transactions to two different accounts between Oct 7 and Oct 29, totalling RM659,000,” he said.
The case is being investigated under Sections 420 and 424 of the Penal Code.
Hoo advised the public to be cautious of online investment offers promising unrealistic profits within a short period, especially those made via social media, messaging apps, or unverified websites not licensed by Bank Negara Malaysia (BNM) or the Securities Commission (SC).
“They should verify the legitimacy of investment companies through BNM or SC’s official websites and avoid sharing personal or banking information with unknown individuals,” he said.
ENDS
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