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Tuesday, January 24, 2017

Report: Loan sharks use scantily-clad women to recover debts



Loan sharks are sending scantily-clad women to defaulters' workplaces to recover their debts, the New Straits Times reported today. 
The report quoted MCA Public Services and Complaints Department chief Michael Chong saying the "genius" tactic surfaced about three years ago and he has since received about 30 complaints from defaulters subjected to such harassment, with 15 of it lodged last year alone. 
"What would your colleagues or employees think when they see a pretty young woman in a short skirt waiting in the office or reception area to see you?
"It can be extremely embarrassing, even before they say they are from a debt collection agency. If they don't introduce themselves, or worse, the loan sharks send a different woman every day, everyone would think the borrower was having one of more extramarital affairs," said Chong. 
This tactic usually worked, he added, with defaulters rushing to settle their debts for fear of losing face. 
According to him, loan sharks nowadays preferred using psychological tactics like these to embarrass borrowers and get them to pay up, rather than using means of violence. 
Several women are reportedly on the payroll of loan sharks, to be used in such cases. 
Last year, his centre received 639 loan-shark related complaints involving a whopping RM59 million in debts, said Chong, adding that this was the highest in his 30 years of handling public complaints. 
Less than 15 days into this year, he has received 22 cases involving more than RM1 million in debts. 

Loan sharks are notorious for, among others, splashing red paint at the house or cars of their debtors, as means to embarrass them.   
As for the nature of debtors, Chong said 75 percent of those who seek his help are habitual gamblers, mostly from the Chinese community, who borrow money to cover losses sustained from online gambling. 
The remaining 25 percent are those who lose money in get-rich-quick schemes, and they are mainly Malays and Indians, he added. - Mkini

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