KUALA LUMPUR: A special committee to address the issue of unlicensed money lenders, or ‘ah long’ (loan sharks), must be formed urgently, said Muslim Consumers Association of Malaysia (PPIM) head activist Nadzim Johan.
He said the committee would record all cases related to loan sharks to enable the authorities, such as the Inland Revenue Board, to take appropriate action.
“Records such as the name and identity card number of loan sharks can be traced by the Inland Revenue Board for tax reference while the authorities can also use the same record for law enforcement purposes if they are found guilty of the offences,” he said at a news conference today.
Based on statistics recorded by PPIM, he said there were 15,000 cases involving loan sharks last year for extorting money from borrowers and beating them up.
“The number of cases is very worrying to PPIM as the loan sharks generally are reported to be capable of taking things into their own hands as long as the debts are not settled,” he said, expressing concern that the number of cases would increase this year. -FMT