Police: Any loan where you pay ‘an initial fee’ first is a scam

KUALA LUMPUR: Any loan that requires the borrower to pay an initial fee is a scam, according to the police.

Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Mohd Kamarudin Md Din said loan syndicates would dupe victims into parting with their money by imposing “an initial fee” before the so-called loan could be approved.