Trader loses RM84,000 to non-existent loan syndicate

ALOR SETAR: A woman who runs an online business lost over RM84,000 recently after being cheated by an individual suspected of being a member of a non-existent loan syndicate.

Kedah Police Contingent Headquarters Commercial Crime Investigation Department chief Supt Elias Omar said the victim from Kulim, about 116 km from here, was contacted through WhatsApp by the suspect who introduced himself as ‘Bryan Leong’, purportedly an agent of a money-lending company early this month.

‘’The 32-year-old victim who was desperate for a loan agreed to borrow RM15,000 to which the suspect promised to speed up the approval process.

‘’After successfully gaining the victim’s trust, the suspect requested her to make various payments such as for insurance, file, loan payment trial and loan system,’’ he said in a statement here yesterday.

He said the victim eventually performed 38 transactions, transferring RM84,290 to 11 bank accounts given by the suspect.

According to Elias, the victim had also borrowed money from family members to pay the suspect.

‘’The victim became suspicious that she was being cheated when the suspect told her to make several more payments and that she would be subjected to an additional payment if she wanted to cancel the loan application,’’ he said.

He said the victim lodged a report at the Lunas police station in Kulim yesterday and the investigation paper was opened under Section 420 of the Penal Code.

In the meantime, Elias urged the public against being easily duped by nonexistent loan syndicates and not to surrender personal information online.

‘’Avoid taking action alone, make sure to always check with the police or the relevant parties for confirmation and discuss with family or friends,’’ he added.