Operation launched to remove illegal moneylending advertisements in KK

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KOTA KINABALU: The Urban Wellbeing, Housing and Local Government Ministry through its moneylenders and pawnbrokers division has launched an operation to take down and remove illegal moneylending advertisements displayed at public places around the city.

According to the division’s state enforcement unit chief Abdul Latif Ibrahim, the aim of the operation started on July 19 was to create awareness among the public against borrowing from unlicensed moneylenders or Ah Long and to warn the latter against advertising their business without a licence and flouting the law.

“These errant moneylenders can be prosecuted and imposed a fine of not more than RM10,000 or a jail term of not more than 12 months or both if convicted, under Section 11(2) of the Moneylenders Act 1951,” he said here yesterday.

According to him, the seized advertisements would be handed over to the Malaysian Communication and Multimedia Commission for the advertisement telephone lines to be terminated.

“In future we will expand the operation to other districts and Labuan with the cooperation of the local authorities in the area,” he said. — Bernama