RM57 million lost to scam syndicates nationwide this year

14 Nov 2019 / 18:48 H.

KUALA LUMPUR: Scam syndicates have caused over RM57 million in losses to their victims since this January by offering them non-existent loans.

Up until Sunday, police have received 4,287 reports from victims of these syndicates this year.

Their ruse begins with random text messages to cellphone users and postings on social media offering low-interest loans with hassle-free approval, even to those blacklisted by banks.

Those who call up to enquire about the loan are asked to submit their particulars, including their payslip.

Often within hours, the scammers would call them back and deliver the “good news” of their loan being approved.

However, the victims are told that they should pay a “processing fee”, often a fraction of the loan amount.

After the victims have paid the initial fee, the syndicate members will pester them for more until the victims decide they had enough or realise they had been fleeced. At this point, the scammers would no longer be reachable.

The highest single loss was suffered by a victim was RM200,000 who sought a RM20,000 loan from a one of the syndicates.

Federal police Commercial Crimes Investigations Department (CCID) director Datuk Seri Mohd Zakaria Ahmad said today that police busted 20 such syndicates nationwide this year with the arrest of 174 people.

He said among those who had fallen victim to the syndicates are professionals and civil servants.

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