Monday, October 26

Police arrest 3 for promoting services of unlicensed money lenders

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Merbin (second left) holds up some of the banners that were seized by the police.

KUCHING: The district police here have arrested three male suspects and seized a total of 225 banners or buntings related to unlicensed moneylenders between June 1 to June 30.

Kuching district police deputy chief Supt Merbin Lisa said the operation was carried out by the district’s Commercial Crime Investigation Department (CCID).

“The suspects were arrested separately when they were found to be giving out business cards to promote the unlicensed moneylenders to the public,” said Merbin in a statement today.

He said all three local suspects aged 25, 26 and 35-years-old have been charged in court under Section 29AA of the Moneylenders Act 1951 on June 26.

Prior to the operation, he revealed that a total of 25 police reports were received regarding banners which promoted or highlighted unlicensed moneylenders in Kuching.

On another note, the police are reminding the public to avoid applying for loans at unlicensed moneylenders as they are known to charge high interests rates and harass their clients.

He added that the presence of unlicensed moneylenders in Kuching is due to the demand from the public who wants an easy loan facility.

“Normally these unlicensed moneylenders will not thoroughly check the credit history of their clients as compared to banks or licensed moneylenders,” he added.

He explained that unlicensed moneylenders who employ thugs to harass their clients when asking for installments payments can be charged in court under Section 29B of the Moneylenders Act 1951.

Meanwhile, those who are facing financial problems are strongly advised to contact the Credit Counselling and Debt Management Agency (AKPK) at 082-414910. The public may also contact the CCID at 013-211 1222 if they are being threatened by any unlicensed moneylenders.