When licensed moneylenders operate like ah long

Samsudin believes the Moneylenders Act 1951 would be more effectively enforced under the Domestic Trade and Cost of Living Ministry, which has 2,000 enforcement officers nationwide, than the Local Government Development Ministry which only has about 40. – BERNAMApic

KUALA LUMPUR: They may be registered with the Local Government Development Ministry and regulated by the Moneylenders Act 1951 (Act 400) but certain licensed moneylending companies appear to operate like loansharks or "ah long" by charging high interest rates.

They even resort to intimidation if customers fail to make their repayments on time, according to reports received by the Kuala Lumpur Consumer Safety Association.