A woman faces threats from unlicensed lenders after falling into a debt trap exceeding RM126,600, with police warning the public against such schemes.
KUALA LUMPUR: A woman is facing threats from unlicensed moneylenders after falling into a debt trap exceeding RM126,600.
Brickfields District Police Chief ACP Hoo Chang Hook said the 34-year-old private company officer initially borrowed RM2,000 but received only RM1,400 before repaying the full amount last July.
The victim later received another loan offer of RM4,000 through WhatsApp on October 28 but refused to proceed.
“She claimed that she was threatened and coerced by the parties involved before finally agreeing,” Hoo told Bernama.
However, the victim only received RM2,100 and had repaid RM1,500 but continued receiving multiple loan offers from unknown numbers.
The victim subsequently took several new loans to settle previous debts and has made 16 loans from individuals claiming to be moneylenders.
The total amount of loans taken was RM126,600 with repayments amounting to RM151,400, but the parties involved continued demanding additional payments and threatened the victim for failing to pay.
Investigations found all transactions were made to several bank accounts believed to be used by the same syndicate.
The case is being investigated under Section 5(2) of the Moneylenders Act 1951.
In a separate case, Hoo said an elderly man lost RM659,000 to an online investment scam recently.
The 65-year-old man’s phone number was added to an investment WhatsApp group on September 12 and was offered an “off-market” investment purportedly operated by a financial institution.
“The victim, lured by promises of high returns, made eight transactions into two different accounts between October 7 and 29 amounting to 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 investment offers promising high returns within short periods, especially those promoted through social media and messaging apps. – Bernama
