KUALA LUMPUR: Two men suspected of being involved in illegal money lending activities have been arrested.
The head of the city’s Commercial Crime Investigation Department, Assistant Comm Mohd Mahidisham Ishak, said the two men, ages 28 and 36, were arrested by Dang Wangi CCID staff at around 10:19 p.m. May 29.
“The two suspects were arrested following searches at a bank along Jalan Medan Tunku and a condominium along Jalan Munshi Abdullah here.
“We seized 40 bank cards, five cell phones, a central unit and a monitor, 11 bank account statements, a calculator, a notebook, an access card, two routers and a set of keys,” he said. he said in a statement Monday (May 30).
He added that the police also seized RM3,000 in cash.
Investigations revealed that the suspects were agents who held the debtors’ ATM cards and made monthly withdrawals.
“The debtor would give them his ATM card when he took out a loan and make monthly payments to the syndicate which would be withdrawn through those ATM cards until the loan was settled.
“The two men have been remanded in custody until June 2 to assist investigations under section 5(2) of the Money Lenders Act 1951 into carrying on moneylending business unlicensed,” he said.
CPA Mohd Mahidisham has urged the public to only use licensed money lending services.
“Do not give your credit card or bank details to a third party.
“We also warn the public against working with these illegal money lending syndicates as it was a crime under section 29 AA of the Money Lenders Act 1951,” he said. he declared.
He urged those with information of similar activity to contact the city police hotline on 03-2115 9999 or go to the nearest police station.