Illegal moneylenders getting increasingly aggressive, says MCA's Michael Chong

The Star

a day ago

KUALA LUMPUR: Loansharks of Ah Longs have stooped to another level when it comes to intimidation by hosting "a funeral" for one of their borrowers, revealed Datuk Seri Michael Chong.
The MCA Public Services and Complaints Department head said a victim by the name of Tan saw a portrait of himself in a wake setting, complete with joss sticks.
'The complainant had borrowed RM10,000 from a money lender for his business in February, and had repaid RM6,000. Previously, he had taken five different loans totalling RM50,000, all of which have been settled.
'On June 26, an Ah Long sent him a picture of a staged wake, which has since been deleted. This kind of intimidation shows how low they can go. Previously the Ah Long threw paint and fire bombs, but because this is considered arson, they are using psychological tactics,' he told a press conference at Wisma MCA on Tuesday (July 1).
In another case involving a complainant by the name of Chan, the loan shark's runner has been harassing borrowers for more and more money.
'The complainant had borrowed RM700 and paid RM1,000 to this Ah Long who goes by the name of Kai Qian, but he kept demanding for more.
'On June 26, this loan shark began to send voice messages threatening the complainant. I suspect that this guy, who is a runner, has gone rogue without the knowledge of his boss, thus causing the company a big problem. As such, we have the duty to expose such individuals because some of these money lenders are legitimate,' he said.
Chan had borrowed from nine different sources to cover his living expenses, and has settled two on his own, while he has managed to settle RM4,800 out of RM12,500 owed to the remaining seven.
Chong also revealed a heartbreaking case involving a mother, Kuek Bee Bee, who wants to disown her son Chong Kok, who fled from money lenders.
The 63-year-old from Cheras, who was sobbing over the fate of her family, is pleading with the money lenders to stop the harassment.
'The family has received multiple threats via phone calls demanding payment, as well as burning the house and kidnapping Kuek's grandchildren.
'Her son left the house on June 17 and the family has no knowledge of his whereabouts. The mother had previously paid RM13,000 of the debts in May, but the son borrowed more.
'The family was even locked out of their home with a chain and padlock, with a note instructing them to contact several numbers. The family has since lodged three reports in June,' Chong said, adding that the family is now living in fear, leading to the mother disowning her son.
In view of rampant aggresive intimidation of borrowers, Chong's deputy Ivan Tan said there was need for stricter laws to address the matter, with the bulk of such cases falling under Section 506 and 503 of the Penal Code.
'Many of these Ah Long are quite aware of these laws and the punishment for it, and look for ways to skirt around them.
'So, we would like to urge the government to study the Penal Code pertaining to this issue,' said Tan, who is a lawyer.
As of June, the MCA has received 165 moneylending related cases involving a sum of RM18.6mil, of which over 85% are from the Chinese community.