Loan sharks are very, very dangerous!
Loan sharks or “Along” as they are popularly known amongst Malaysians are persons who offer loans at extremely high interest rates, have strict terms of collection upon failure, and generally operate outside the law.
Photo via The Star
Bukit Aman’s Commercial Crime Investigation Department has received information about unlicensed money lenders approaching flood victims to offer loans.
Its director, Datuk Mohd Kamarudin Md Din said although there have been no reports lodged yet on the matter, police have not ruled out the possibility that loan sharks are now targeting flood victims.
“Flood victims are advised to be alert and be cautious so that they do not end up being victims to these unlicensed money lenders.
“Police are constantly monitoring loan shark activities through investigations and continued operations,” he said in a statement.
Photo via FMT
Loan sharks are dangerous because they use violence, threats, and other illegal practices to collect the money owed. Some loan sharks even confiscate ID cards and other documents as a guarantee of repayment.
So, the best way to deal with loan sharks is to not deal with them at all! Stay safe.
By: Aishah Akashah Ahadiat
