By Karen Bong
KUCHING, Sept 26: A 40-year-old businesswoman found herself in dire straits, suffering not only a financial loss exceeding RM30,000 but also enduring harassment and threats to the safety of her children after falling prey to an online easy loan scam.
Seeking assistance, the victim turned to Sarawak United Peoples’ Party (SUPP) Public Complaints Bureau (PCB) chief Milton Foo, as her life, her children, her family members, and her business had all been gravely affected.
Her desperation for cash to sustain her small business, exacerbated by the challenges posed by the Covid-19 pandemic, led her to a seemingly enticing “easy loan” advertisement she stumbled upon on Facebook in May of this year.
Clicking on the provided link, she was redirected to a conversation on WhatsApp. Initially intending to borrow RM20,000, as a first-time applicant, she was only offered RM2,000, which she accepted.
However, under the scam scheme, she only received RM1,400 and was obligated to repay RM1,800. On top of this, she was required to service a weekly interest and an alleged administrative fee of RM600.
She went on to service the interest payments every week for months, but this did not make a dent in the principal loan of RM2,000.
Over the months until September of this year, she also received loan offers from 32 different contacts, which she accepted, borrowing amounts ranging from RM400 to RM1,500 to cover the various interest charges.
“In one instance, I borrowed RM600 but had repaid RM300 in interest for 16 times,” she shared during a press conference by SUPP PCB at the SUPP headquarters today.
Unbeknownst to her husband, who is also a businessman, she had borrowed RM32,000 while shelling out over RM60,000 in interest charges across multiple transactions to different bank accounts each time.
It was only when the situation spiraled out of control that she confided in her sister, eventually revealing her dire circumstances to her husband and other family members.
When she found herself unable to meet the repayments, the scammers resorted to posting her photos on social media platforms, branding her as a cheater and debtor. She further alleged that the scammers had hacked into her phone, retrieving her contacts and creating chat groups to expose her situation.
To make matters worse, the scammers even threatened to locate her children at their schools.
She eventually lodged a police report on Sept 18, submitting all relevant documents in the hope of prompting a thorough investigation.
During the press conference, Foo reiterated his plea to the public, urging them not to engage with or click on suspicious online links, especially those offering easy loans with low interest rates, regardless of their pressing financial needs.
He warned, “This is the sinister nature of online loan scams; you’ll never clear your debt—it just keeps accumulating. It’s worse than dealing with Ah Long (loan sharks). I can’t stress enough that people should avoid falling victim to these online loan scams. Once you’re in, there’s no turning back.”
Foo hopes that the authorities, particularly the police, would conduct a comprehensive investigation and ensure the safety and security of the victim and her family. — DayakDaily
