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  • 9 hours ago
Malaysia's loan shark problem is escalating, with MCA receiving 159 complaints involving nearly RM16 million in loans as of June.

Its Public Services and Complaints Department head Datuk Seri Michael Chong warned that syndicates are using increasingly deceptive tactics, including charging victims for red-paint attacks they orchestrated themselves, and imposing interest as high as RM21,000 on a RM1,000 loan.

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00:02Every time we talk about our loan gates, but this is special.
00:06MCA, Public Services and Complaints Department Head Datuk Seri Michael Chong,
00:10revealed that as of June this year,
00:12his department had received 159 complaints involving loans
00:16totalling nearly 16 million ringgit from 1,679 loan sharks.
00:22He warned that syndicates are becoming increasingly aggressive and deceptive,
00:27inventing excuses to squeeze more money out of desperate borrowers.
00:3129-year-old Kor Menghai says he is now being forced to pay
00:35for a red paint attack on his own home.
00:37On top of interest, he can no longer afford.
00:40Service charge for throwing paint, 700 ringgit.
00:44So last time I remember, you know, they throw green paint, blue paint,
00:50because red paint out of stock.
00:52Out of stock, so they throw green paint.
00:56But this one, 700 ringgit.
01:00You pay 1,700, I cross case.
01:02So I just let you know that now they will charge you for the services
01:09which they have to pay.
01:11Another victim, known only as Lo,
01:14says his family has lived in fear since May,
01:16harassed by five different loan shark syndicates
01:19over his brother's gambling addiction.
01:22He's a habitual gambler.
01:27So the family already helped him to settle for more than 200,000.
01:34So recently, they cannot settle because
01:38they don't know how much he borrowed
01:40and where he have gone also don't know.
01:43But they only got five alum come to the house.
01:46So these alum there threatened
01:49to burn the house.
01:51And also, not only that,
01:55they put the family photo
01:57in family photo inside the Facebook
02:00to disgrace them.
02:02All the, you see, put the whole family,
02:05even children, they put.
02:06Even last year, all the innocent family members,
02:10the children also they put
02:11to disgrace them all.
02:13When you go and burn the house
02:14where all these children are staying,
02:16they put the warning now.
02:18They put the Facebook
02:19that we are coming.
02:20Chong also had a stark message
02:22for borrowers themselves,
02:23warning that by failing to repay loans,
02:26they are putting innocent family members in danger.
02:29He urged the public to seek help early
02:31and avoid loan sharks entirely.
02:33And also, remember,
02:36I just want to caution you all.
02:38You know,
02:41when you all lost a report,
02:44immediately somebody will call one.
02:47Massa, you got a bit of a thing like that.
02:50If you lost a report,
02:51there will be a caller coming in.
02:53And they say,
02:53okay, I'm the manager.
02:56How they get the police report,
02:59we don't know.
03:00But they can get the thing.
03:02I'm the manager.
03:03Now, no need.
03:04You don't have to pay so much.
03:05You just pay 5,000
03:07or just pay the amount give to pass.
03:09We close the gate.
03:11Actually, all subcommend.
03:13Once you pay already,
03:14there are other steps that I didn't receive.
03:18So be careful.
03:19You will get scam after scam.
03:22Scam after scam.
03:24Okay?
03:24Cheater.
03:25Okay?
03:25Okay?
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