3 arrested, 225 buntings seized as cops crack down on illegal moneylending
KUCHING: A crackdown on unlicensed moneylending by police here resulted in the seizure of more than 200 pieces of related paraphernalia and the arrest of three men.
Kuching deputy police chief Supt Merbin Lisa said the seizures and arrests were made throughout last month, in connection with 25 police reports received on banners promoting unlicensed moneylenders in the district.
“Between June 1 and June 30, the Commercial Crime Investigation Department (CCID) seized a total of 225 buntings or banners related to unlicensed moneylenders.
“Three men were also arrested separately after they were found to be handing out business cards promoting the unlicensed moneylenders to the public,” he said in a statement yesterday.
He added that the suspects, aged 25, 26 and 35, were all charged in court on June 26 under Section 29AA of the Moneylenders Act 1951, for assisting unlicensed moneylending.
Merbin also reminded the public not to apply for loans from illegal moneylenders, as they are known to charge high interest rates and also harass their clients.
He said the presence of unlicensed moneylenders in Kuching is due to the demand from the public who want an easy loan facility.
“Normally these unlicensed moneylenders will not thoroughly check the credit history of their clients as compared to banks or licensed moneylenders.”
He said those who are being threatened by unlicensed moneylenders can contact the CCID on 013-211 1222, and also warned illegal moneylenders that they can be charged in court under Section 29B of the Moneylenders Act 1951 if they employ thugs to harass their clients when asking for installment payments.
Meanwhile, those who are facing financial problems are advised to contact the Credit Counselling and Debt Management Agency (AKPK) on 082-414910.