Sharp rise in loan shark cases expected

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Loan sharks might also take advantage of the situation and target more people.

Johor MCA government coordinating affairs chairman Michael Tay said a lot of people were now starting to feel the pinch of losing their jobs, taking unpaid leave or shutting down their businesses during the movement control order .

Tay, who is also Johor Baru MCA public complaints bureau chief, said he received such cases almost every day since the MCO started. Tay said he expected the number of people seeking help from loan sharks to increase further when the extension for bank loan moratorium came to an end. When contacted, Johor police chief Comm Datuk Ayob Khan Mydin Pitchay said the police received some 237 loan shark-related cases from January to July this year in Johor.

Source: Loan Digest (loandigest.net)

 

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