Malays the prime target of loansharks: report

Loansharks find the Malays easiest to bully, reported Utusan Mala­ysia.

Quoting MCA Public Services and Complaints Department chief Datuk Seri Michael Chong in a special report on illegal moneylending, the daily said borrowers were often cruelly and mercilessly treated by the ah long.

He said the loan sharks found it easier to dupe the Malays into borrowing RM1,000 (S$382) for a repayment of RM10,000 as the interests on instalments were hefty.

Furthermore, the Malays are easily humiliated and frightened, enco­uraging the "ah long" to brazenly put up posters of the borrowers' faces in public places to coax them into paying up faster.

Chong said there was an increasing number of Malay women taking out loans, adding that most Malay borrowers were desperate due to failed business ventures and get-rich-quick schemes.

He said the Chinese mostly borrowed from loan sharks to support their gambling habits.