Two fall victim to loan scams, lose over RM200,000


  • Nation
  • Friday, 14 Feb 2020

JOHOR BARU: A contractor who wanted to borrow only RM70,000 for his personal use was instead cheated of over RM120,000 in a fake loan scam.

The man, who wished to be anonymous, said he thought he was dealing with an agent from a licensed moneylender.

He added that he had to turn to a moneylender as he was unable to get loans from banks due to his poor credit rating.

The victim, in his 40s, had befriended the agent online. The latter agreed to give him a loan.

“However, they asked for some payments for insurance, processing and legal feels of between RM1,000 and RM4,000 each, ” he said.After paying the agent more than RM120,000 in dozens of transactions and still not getting the loan, he suspected something was amiss.

“Each time they assured me not to worry and the money would be dispersed any time, ” he said.

When he asked for all his money to be refunded, he said the agent threatened him.

Several days ago, the victim lodged a police report.

“I regret ever applying for a loan via WhatsApp and also not meeting the agent himself at their office, ” he said.

Meanwhile, a manager in his 20s who wanted to borrow a few thousand ringgit was duped in a similar scam in the city.

It is learnt that the victim, who had also thought that he was dealing with a licensed moneylender, ended up paying almost RM90,000 in small payments to the fake loan syndicate. He then lodged a police report.

Police said they had started investigating both cases under Section 420 of the Penal Code for cheating, and urged the public not to pay any money upfront when taking a loan.

He called on those with information to contact the police hotline at 07-221 2999.

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