KUALA LUMPUR: It has not been smooth going for loan sharks or Ah Long preying on those financially affected by the ongoing pandemic.
The police, aware of the exploitation, have since been on their tail rounding up 801 loan sharks between January and last month.
Federal police commercial crimes investigations department (CCID) director Commissioner Datuk Kamarudin Md Din (pix) said today that for the same period police investigated 683 cases involving about RM2.91 million.
He said on Tuesday, police launched a massive operation against loan sharks in Johor Baru where 11 men and three women from two illegal money-lending syndicates known as Ah Han and Ah Sing were arrested.
Kamaruddin said the suspects who are aged between 15 and 34 targeted locals and charged borrowers between 10% and 15% interest per week .
He said the suspects would resort to aggression and threats when debtors defaulted in repayments.
Kamaruddin said the pandemic which had left many unemployed had led to them taking loans from Ah Long without considering the complicated and difficult situation it could put them in when their debts start sky-rocketing.
He urged the public to refrain from dealing with Ah Long and opt for other legal means when taking loans.
