By DayakDaily Team
KUCHING, Aug 15: A loan scam victim who initially sought a RM3,000 loan ended up losing at least RM2,000 after falling prey to a series of upfront payment demands and subsequently borrowing another RM500 from a separate party.
According to the Sarawak Consumers Association (PPS), the victim was initially lured by a social media advertisement claiming to represent a licensed loan company offering easy approval, quick processing, and low interest rates.
“The victim initially only wanted to borrow RM3,000. The party claimed the interest would be around RM200, with repayment over 12 months at approximately RM267 per month.
“The offer appeared attractive, leading the victim to believe that they were dealing with a legitimate loan company,” it said in a statement.
During the application process, the victim was asked to fill in and sign a loan application form and provide personal information, photographs of their identity card, and a selfie.
The victim was then asked to make several payments, including RM138 for registration and account opening, RM650 for opening a loan account, and RM850 for ‘Top Up Scoring’.
After paying a total of RM1,638, the victim still did not receive the RM3,000 loan and was asked to pay an additional RM950 for ‘Top Up Scoring’.
“When the victim could no longer afford the payments and wanted to cancel the application, the party demanded another RM450 as a ‘cancellation fee’,” said the association.
The victim was then allegedly threatened when they refused to make further payments, with the scammers threatening to contact their workplace, harass family members, and publish their photographs and personal information on Facebook, accusing them of borrowing money and failing to repay it.
PPS said the party also allegedly asked the victim to become a ‘money mule’ by using their personal bank account to receive or transfer money on its behalf as a way of settling the alleged debt.
The association also warned that allowing unknown parties to use a personal bank account could expose individuals to financial losses and the risk of their accounts being misused for fraudulent or suspicious transactions.
The ordeal did not end there, as another phone number later contacted the victim offering a further loan. Already facing financial difficulties, the victim borrowed RM500 but was allegedly instructed to repay RM1,000 within seven days.
Under continued pressure, the victim borrowed money from family members and relatives and eventually paid RM2,000. However, the party allegedly continued demanding another RM4,000.
PPS president Dr Wynson Ong Teck Ping urged the public not to be easily swayed by claims such as ‘low interest’, ‘licensed company’, ‘easy approval’, and ‘quick approval’ in loan advertisements on social media.
“If the loan money has not been received but you are already being asked to pay various fees upfront, this is a serious warning sign,” he said.
He also urged members of the public to exercise caution before handing over their identity cards, photographs, employment information, or family details, as such information could be misused to harass, pressure or embarrass victims.
“Never hand over or lend your bank account to unknown parties simply to settle payment demands. Doing so could expose you to account misuse and legal problems.
“If you become trapped in a loan scam like this, do not be afraid and immediately make payments simply because you are being threatened or pressured.
“Keep all evidence, including conversations, phone numbers, transaction records, bank account details, Facebook advertisements, and threatening messages, and immediately lodge a police report,” he said.
The association also encouraged those who believe they have been scammed to contact its hotline at 017-710 9299.
“PPS will provide free assistance. Do not face them alone. Together, we can defend victims’ rights and fight scams.
“Do not be afraid of threats. Do not keep paying under pressure. The more you pay, the more they will demand.” — DayakDaily
