Johor cops bust alleged M'sian loan shark syndicate targeting M’sians working in S’pore

An unlicensed loan shark syndicate has been dismantled following the arrests of four suspects, the Malay Mail reported.

It allegedly targeted Malaysians working in Singapore by offering loans through Facebook and TikTok, according to Johor police chief M Kumar.

“The loans were transferred directly into borrowers’ bank accounts without any formal agreements and interest rates ranged between 20 and 50 per cent, with transactions conducted through Singapore-registered accounts,” he added.

Four arrested

Three Malaysian men between the ages of 30 to 34 and a 27-year-old woman were arrested.

They were believed to be foot soldiers for a loan shark syndicate active in Johor and Pahang since March.

The four suspects also tested positive for methamphetamine.

The police detained them in separate raids across Johor Bahru on Apr. 17.

Kumar also said the police believe nine separate cases would be solved with these arrests.

Police investigations revealed that the group was allegedly paid between RM 100 (S$30) and RM 350 (S$107) to intimidate borrowers with overdue loans.

These alleged acts of mischief included splashing paint, locking victims’ homes and issuing threats.

Under Malaysia’s Moneylenders Act, unlicensed moneylenders can face fines ranging from RM 250,000 (S$76,000) to RM 1 million (S$305,000), imprisonment for up to five years, or both. Repeat offenders may also be subject to canning.

The suspects are scheduled to be charged at the Batu Pahat Magistrates’ Court May 8.

Top image from Johor police.