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60% increase in number of loan shark victims this year
Wed, Aug 13, 2008
The Star

MALAYSIA: LOAN shark reports are on the rise in the Klang Valley and in Johor. Victims who borrowed from the illegal moneylenders are finding it hard to repay their loans, with some attempting suicide as a last resort.

Two days ago a 31-year-old victim in Kuala Lumpur, who is said to have borrowed RM160,000 from loan sharks, attempted to take his own life by slitting his wrists and setting his house on fire. His brother saved him in the nick of time, but the victim is fighting for his life at Hospital Kuala Lumpur.

To date the Johor MCA Public Services and Complaints Department received 150 cases of people entangled with the vicious loan shark menace. The figure is a 60% increase over the less than 100 cases reported to the department last year.

In Kuala Lumpur, the City police received 400 reports against loan sharks up till yesterday, while the whole of last year there were 500 reports. Police believe the real number could be three times higher because some victims are reluctant to lodge reports for fear of

 

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